Property Valuation
A Kansas appraiser estimates the remaining economic life of a 10-year-old building with a total economic life of 40 years. The remaining economic life is:
A10 years
B20 years
C30 years✓ Correct
D40 years
Explanation
Remaining economic life = Total economic life – Effective age = 40 – 10 = 30 years. Appraisers in Kansas use standardized methods to estimate property value for lending and sales.. The correct answer is 30 years.
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