Depreciation Exp

Hi-
I just started looking at properties
3-4 fam rentals in Jersey city.
pls correct me if I'm wrong but from what I've read, I can depreciate the purchase price minus the land over 27.5 years.

How do I find the value of the land, also, is their a rule of thumb for quick estimates. (ie: % of purchase price)

thanks in advance, this is a great website , I've learned alot.

Comments(2)

  • dickknox23rd September, 2003

    In California the tax bill gives you two assessed numbers - one for land other for improvements.

  • GFous29th September, 2003

    Simple rule of thumb in most markets is 80% improvements, 20% land.
    [addsig]

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