Property Valuation
The 'economic life' of a Pennsylvania building differs from 'physical life' in that:
AThey are always the same for all structures
BEconomic life is the period during which improvements contribute positively to property value; physical life is how long the structure can physically stand✓ Correct
CPhysical life applies to land; economic life to buildings
DEconomic life is always longer than physical life
Explanation
Physical life is how long a structure can remain standing. Economic life (or useful life) is the period during which the building contributes value to the property.
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