What term is used to describe the time remaining from the appraisal date?

The term "remaining economic life" refers to the amount of time a property is expected to generate economic benefits, such as income or use, from the appraisal date until it ceases to provide these benefits. This concept plays a crucial role in appraisal as it helps appraisers estimate the value of a property based on its potential for income generation over its remaining useful period.

In practice, the remaining economic life is essential for determining depreciation and investment value. It allows stakeholders to assess the longevity and sustainability of the property's income stream, thus influencing decisions on investments, property management, and improvements.

While "remaining effective life," "future useful life," and "projected lifespan" might seem relevant, they do not capture the specific economic implications tied to the property's revenue generation as precisely as the term "remaining economic life." This distinction is what validates the choice of the correct term in the context of appraisal practices.