Economic (External) Obsolescence
A loss in value from outside factors like a nearby nuisance — usable evidence in an appeal.
Economic or external obsolescence is value lost to factors beyond the property line: a new highway, a commercial neighbor, flooding history, or a declining local economy.
These depress what a buyer would pay but seldom appear in an assessor’s model. Evidence of external nuisances, paired with comps that reflect the impact, strengthens an appeal.
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