Property Valuation
Effective age in appraisal refers to:
AThe actual calendar age of the improvement
BThe age indicated by the improvement's condition and utility relative to similar properties✓ Correct
CThe age at which the building must be demolished
DThe age used for depreciation on tax returns
Explanation
Effective age is based on the condition and remaining economic utility of the improvement, not its actual age. A well-maintained older building may have a lower effective age than its chronological age.
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