Property Valuation
When a Long Island home's value is negatively impacted because it is located near a power line, this is an example of:
APhysical depreciation
BFunctional obsolescence
CExternal (economic) obsolescence✓ Correct
DAccrued depreciation
Explanation
Proximity to power lines is an external factor—outside the property—that negatively affects market value. This is classified as external (economic) obsolescence, which is generally incurable.
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