Property Valuation
External (economic) obsolescence in an Indiana property appraisal could be caused by:
AA leaking roof
BAn outdated kitchen layout
CA new industrial facility built adjacent to a residential neighborhood✓ Correct
DDeferred maintenance on the exterior
Explanation
External obsolescence is caused by factors outside the property — such as a nearby highway, airport, landfill, or industrial facility — that negatively impact property value. It is generally incurable.
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