Property Valuation
In Maine, properties located near the Portland International Jetport may experience a reduction in value due to airplane noise. This is an example of:
APhysical depreciation
BExternal (economic) obsolescence✓ Correct
CFunctional obsolescence
DCurable depreciation
Explanation
External obsolescence is caused by factors outside the property, such as airport noise, highway proximity, or nearby industrial uses. It is typically incurable (the owner cannot eliminate the source).
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