Property Valuation
In New York, 'physical depreciation' due to 'deferred maintenance' is classified as:
AIncurable physical deterioration
BCurable physical deterioration, as it can be corrected at reasonable cost✓ Correct
CExternal obsolescence
DFunctional obsolescence
Explanation
Deferred maintenance represents items that should have been addressed but were postponed. Since these items can typically be repaired at reasonable cost relative to the value gain, they are classified as curable physical deterioration.
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