Property Valuation
In Virginia, the effective age of a building differs from its actual age because:
AThey are always equal by Virginia appraisal standards
BEffective age reflects the condition and utility of the building relative to similar buildings, regardless of actual years✓ Correct
CEffective age is calculated from the date of first occupancy, not construction
DEffective age is used only for commercial buildings
Explanation
Effective age is based on the condition and utility of the structure relative to similar properties. A well-maintained building may have an effective age less than its actual age; a neglected building may have a greater effective age.
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