Property Valuation
An 'effective age' of a building refers to:
AThe age of the building based on its date of construction
BThe age indicated by the building's condition and utility, which may differ from its actual age✓ Correct
CThe remaining economic life only
DThe age the county assessor assigns for tax purposes
Explanation
Effective age reflects the building's condition, maintenance, and functional utility rather than its chronological age. A well-maintained older building may have a lower effective age than its actual age, while a neglected new building may have a higher effective age.
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