Property Valuation
External (economic) obsolescence affecting Vermont resort properties can include:
AWorn carpeting and dated kitchen appliances
BDeclining ski resort visitor numbers due to poor snowfall or climate trends✓ Correct
CAn outdated floor plan
DDeferred maintenance on the deck
Explanation
External obsolescence is a loss in value caused by factors outside the property, such as economic decline, changes in the neighborhood, or — for Vermont ski properties — reduced snowfall or declining resort popularity.
Related Vermont Property Valuation Questions
- Which of the following is the definition of market value for appraisal purposes?
- Vermont's property tax equalization study ensures that:
- Vermont's 'leased fee estate' value reflects:
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- Vermont appraisers must comply with which national professional standard for appraisal practice?
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- When reconciling the three approaches to value in a Vermont residential appraisal, the appraiser typically gives the MOST weight to:
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