Property Valuation
Which type of depreciation in a South Carolina property results from factors outside the property itself, such as nearby industrial development?
APhysical deterioration
BFunctional obsolescence
CEconomic (external) obsolescence✓ Correct
DCurable depreciation
Explanation
Economic (external) obsolescence is caused by factors outside the property's boundaries, such as nearby nuisances, neighborhood decline, or adverse zoning changes. It is typically incurable.
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