Property Valuation
Vermont's 'effective age' of a property differs from its actual (chronological) age because:
AThey are always the same
BEffective age reflects the property's actual condition and functionality, which may be less or greater than chronological age depending on maintenance and updates✓ Correct
CEffective age is used only for tax purposes
DEffective age is always lower than actual age
Explanation
Effective age is the estimated age of a property based on its condition, maintenance, and updates rather than its actual construction date. A well-maintained Vermont home may have an effective age much less than its chronological age; a poorly maintained one may have a higher effective age.
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