BC 2011 10 17 Regular Meeting - Laserfiche WebLink

Home Browse Search

October 17, 2011 (Regular Meeting) construction. Pa ge 72 9 Effective Year Built: MUST be entered and should reflect any modernization or refurbishing done to extend the useful life of the original structure beyond its normal life span, or for those homes located in a neighborhood or area where the market indicates less depreciation than the typical area within the county. Economic Obsolescence: If it exists it should be entered as a percentage amount to be added to normal physical depreciation. The percentage cannot exceed 50 %. Functional Obsolescence: If it exists it should be entered as a percentage amount to be added to normal physical depreciation. The percentage cannot exceed 500. UNUSUAL DEPRECIATION (Special Condition Codes, Percent Condition) SPECIAL CONOMON CODE (UC, AP, PD, RV, M PERCENT CONOIT104 These entries allow the user to indicate special conditions such as fire or weather damage or where the dwelling has not been normally maintained as depreciation amounts. There are three Special Condition Codes which may be entered if applicable. Otherwise, they should be left BLANK. UC = Under Construction* TE = Temporary Economic PD = Physically Damaged* RV = Residual Value AP = Abnormal Physical Depreciation *UC, RV, TE and PD will over ride Normal Depreciation PERCENT CONDITION must be used if one of the above codes (UC, PD, AP, TE, RV) is used. PERCENT CONDITION is that percent good after you apply UC, RV, TE or PD. PERCENT CONDITION is added to normal depreciation if you use code AP. NOTE: To use the Percent Condition one of the Special Condition Codes MUST BE USED. Also, care must be taken in the use of these codes as they will override the depreciation developed from the normal depreciation, economic obsolescence and functional obsolescence. AP should be entered as a percentage amount to be added to normal depreciation. When using Under Construction (UC) , Physical Damage (PD) , Residual Value (RV) , or Temporary Economic (TE), remember, that if you assign 60% for either of these codes and the dwelling is 70 years old and should really be 30% good, it will change it to 60% good because these codes override any normal physical, functional or economic depreciation. Use the CONSTRUCTION COMPLETION CHART located at the end of this chapter to recalculate percent condition: CONDO AND COMMERCIAL Data carried on this portion of the form needs to be entered on all improved properties other than single family residences and mobile homes. COMMERCIAL HEAT AND AIR CONDITIONING f:RmmrRrim HFAT A AfR r.mmnmnmfPr t NONE Z HEATING & X PACKAGED % HEATING & AC spuT UNITS This field must be entered with a 1, 2 or 3. FLOOR NUMBER CONDO /COOP /APT. FLOOR NO. When used with the 03 model condominium, this is the floor number on which the unit is located. When used with all other models, this is the number of floors in the building. Enter 01 - 99. LOCATION (Condominiums) CONDO /COOP /A". FLOOR NO. Enter one of the following codes: 00 - Not Applicable CN - Corner No View CV - Corner With View