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Depreciation is the reduction in value of a building due to wear and tear over time. The depreciation percentage for a building valuation is calculated by dividing the total depreciation over the course of its useful life (usually expressed in years) by the estimated total value of the building at tRead more
Depreciation is the reduction in value of a building due to wear and tear over time. The depreciation percentage for a building valuation is calculated by dividing the total depreciation over the course of its useful life (usually expressed in years) by the estimated total value of the building at the beginning of its useful life.
This percentage can then be multiplied by the current market value of the building to determine its depreciated value.
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