Property Valuation
What does 'effective age' mean in a Delaware appraisal?
AThe actual number of years since the building was constructed
BThe apparent age of the building based on its condition and maintenance, relative to typical buildings of similar age✓ Correct
CThe age of the most recent major renovation
DThe age of the oldest component of the building
Explanation
Effective age reflects the building's condition and maintenance rather than its chronological age. A well-maintained older building may have a lower effective age than its actual age, while a neglected newer building may have a higher effective age.
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