Property Valuation
In South Carolina, 'reproduction cost' differs from 'replacement cost' in that:
AThey are the same concept
BReproduction cost uses current materials and methods; replacement cost duplicates the exact original
CReplacement cost duplicates the original; reproduction cost uses equivalent materials✓ Correct
DReproduction cost is always lower than replacement cost
Explanation
Replacement cost estimates the cost to build a structure with equivalent utility using current materials and methods. Reproduction cost estimates the exact duplication of the original structure, including outdated materials.
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