Property Valuation
A Texas property's effective age is 10 years but its actual (chronological) age is 20 years. This difference indicates:
AThe property has experienced more depreciation than expected
BThe property has been well-maintained or renovated, reducing its functional age✓ Correct
CThe appraiser made an error
DThe property is considered historic
Explanation
Effective age reflects the condition and usefulness of a property relative to its peers, not just its calendar age. An effective age younger than chronological age indicates superior maintenance or renovation.
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