Effective age definition

Effective age means the difference between the estimated useful life and remaining useful life.

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.

Effective age means the difference between the estimated

Examples of Effective age in a sentence

• 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 quality of construction, types of amenities, and quality of maintenance.

• Effective age, Expected Useful Life, and Remaining Useful life of major components and systems shall be discussed, with estimated costs developed for those items that will need to be replaced within ten (10) years.

• Effective age or economic age reflects the effects of depreciation on improvements, which are typically, reduced due to high-quality, maintenance, and in Sale #3 a major renovation.Condition / Quality of Construction: Sale #1 appears to require a “condition” adjustment due to overall age and the condition of this older residence at the time of sale.Functional Utility: Functional utility is the ability of a property to function in the marketplace.

• Key points• Effective age assurance is urgently needed to ensure children are served age-appropriate experiences.• The current lack of effective and consistent age checking is harming children:o 61% of 11–13-year-olds have unintentionally viewed pornography online.4o 81% of 12–15-year-olds – upwards of 2.5 million children in the UK – say they have had a potential harmful experience online.5o Child access has led to the increasing normalisation of violence against women.

More Definitions of Effective age

Effective age means the difference between the useful life

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.

Effective age means the number of years determined by:

Effective age means the difference between useful

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.

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

Effective age means the age of a structure as compared to other structures performing like functions. For mass appraisal purposes and for the valuation of real property within the State of Indiana, the condition rating will reflect the effective age of a structure. (2011 Real Property Assessment Manual and Guidelines Book 2, Glossary, pg. 8)