Property Valuation
In Washington, 'functional utility' as used in appraisal refers to:
AThe property's utility bills
BThe ability of the property to perform the function it was designed for or the function being analyzed✓ Correct
CThe functional age of the improvements
DThe property's compliance with current building codes
Explanation
Functional utility is the ability of a property or improvement to perform its intended function effectively. Functional obsolescence occurs when a property's design or features reduce its functional utility compared to modern standards.
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