Effective age definition

Effective age means the age of property that is based on the amount of observed deterioration and obsolescence it has sustained, which may be different from its chronological age. It is the age indicated by the condition and utility of a structure and is based on an appraiser’s judgment and interpretation of market perceptions. The maintenance standards of owners or occupants can influence the pace of building depreciation. If one building is better maintained than other buildings in its market area, the effective age of that building may be less than its Actual Age. If a building is poorly maintained, its effective age may be greater than its Actual Age. If a building has received typical maintenance, its effective age and Actual Age may be the same.
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Effective age means the difference between the estimated useful life and remaining useful life.
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Effective age means the difference between the estimated
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Examples of Effective age in a sentence

  • Other organizations may provide services only when approved by SummaCare, and their duties must be assigned and supervised by a professional nurse on the staff of the home health care Provider.❑ Therapy services (except for manipulation therapy, which will not be covered when rendered in the home).

  • Effective age is the age indicated by the condition and utility of a structure.

  • Effective age is calculated based on the year of the most recent redevelopment of the shopping center or based on year built if no redevelopment has occurred.

  • Effective age estimates are based on the utility of the improvements relative to where the improvement lies on the scale of its total economic life and its competitive position in the marketplace.

  • Effective age estimates are based on the observed amount of depreciation, and the wear and tear of the improvements.


More Definitions of Effective age

Effective age means the difference between the useful life
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Effective age means a facility's building chronological age reduced by allowable projects for improvements to land, building, and fixed equipment. A facility's effective age must be calculated annually based upon improvements made during the cost report period.
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Effective age means a facility’s building chronological age reduced by allowable projects for improvements to land, building and fixed equipment. A facility’s effective age will be calculated annually based upon improvements made during the cost report period.
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Effective age means the difference between useful
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Effective age means the number of years determined by:
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Effective age means an age assigned to a structure based on its remaining economic life as of the effective valuation date. It may be more or less than the structure’s actual age. When the actual age of a structure is affected by changes in the structure’s remaining economic life, the assessor shall use the effective age in calculating the depreciation of the structure.” 50 IAC 2.2-1-25.1.
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Effective age means the difference between useful life and
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