Parcel Depreciation
I am looking into my first piece of investing property and I ran across a couple of things I did not understand. I was hoping someone could help me.
Depreciation
Bldg Physical Functional Economic Special
1 AV - 39%
Does AV - 39% mean the house is worth 39% less now than last year?
One reason I came to this conclusion is these couple of line:
Value Changes
Notice Date Tax Year Reason Changed To
Jan 17 2003 2003 Countywide Revaluation 77500 0
Jan 5 1998 1998 Countywide Revaluation 85970
Jan 2 1991 1991 Countywide Revaluation 61480
The tax value decreased from ~85.9k to 77.5k
I was hoping some one could shed some light.
Thank you,
Terence
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