Property Valuation
In South Carolina, what is 'accrued depreciation' in appraisal?
AThe total depreciation deducted for tax purposes
BThe total loss in value from all causes (physical, functional, external) as of the appraisal date✓ Correct
CThe future depreciation the property will experience
DDepreciation calculated only for accounting purposes
Explanation
Accrued depreciation is the total loss in value that has occurred to a property as of the appraisal date from all causes — physical deterioration, functional obsolescence, and external obsolescence. It is deducted from the reproduction or replacement cost in the cost approach.
Related South Carolina Property Valuation Questions
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