Depreciation/Obsolescence

Properties with Physical Deterioration, Functional Obsolescence, and Economic Obsolescence

When reviewing your location, it is important to consider depreciation factors. Depreciation can result from three major causes: Physical Deterioration, Functional Obsolescence, and Economic Obsolescence. It's essential to contact an INTAX professional to determine if any depreciation factors are present, which could decrease the property assessment. Older properties or properties in poor physical condition should be graded at a lower quality and have more depreciation applied than properties in good condition, which should be reflected with a lower assessment.