Property Valuation
Effective age differs from actual age because:
AThey are always the same for tax purposes
BEffective age reflects the condition and utility of a property, not its chronological age✓ Correct
CActual age is used only for new construction
DEffective age is always greater than actual age
Explanation
Effective age is the appraiser's opinion of the age a property appears to be based on its condition and maintenance, which may be less than, equal to, or greater than its actual (chronological) age.
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