For building depreciation purposes, what % of property value is considered acceptable to attribute to land if no land assessment value information available?

Property

TaxConnections Members... Answer This Question Want To be One of Our Tax Experts? Register Here

Tax Professional Answers

There is really no formula that can be used to make that allocation, as each parcel of land is different. You can place an identical house on a 1/4 acre tract of land, or you could place it on a acre parcel. The best thing to do us to have an assessment done, or use comparable values if those are available.

Access Leading Tax Experts And Technology
In Our Global Digital Marketplace

For building depreciation purposes, what % of property value is considered acceptable to attribute to land if no land assessment value information available?

Tax Professional Answers

View/Select our Current List of Tax Topics

Access Leading Tax Experts And TechnologyIn Our Global Digital Marketplace

For building depreciation purposes, what % of property value is considered acceptable to attribute to land if no land assessment value information available?

Tax Professional Answers

View/Select our Current List of Tax Topics

INCREASE KNOWLEDGE WITH EVERY ISSUE OF TAXCONNECTIONS

Learn from tax advisors, straight to your inbox

Access Leading Tax Experts And Technology
In Our Global Digital Marketplace