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In these cases, overall age-life baseline depreciation can comprise all forms of accrued depreciation or merely baseline depreciation, including incurable physical deterioration and ordinary incurable functional obsolescence.
Assume that there is no special functional obsolescence and no external obsolescence; however, the building needs $22,500 in curables in this illustration.
When there are many different types of special incurable functional obsolescence and different degrees of economic obsolescence, it is difficult to make a comparison of overall age-life depreciation from either comparable sales or investment properties.
If a plumbing fixture is estimated to have a functional life of 40 years, the chronological age as a percentage of the total functional life of 40 years is the measure of baseline depreciation on a functional life basis, taking into account ordinary incurable functional obsolescence.
Nonetheless, whenever a cost approach system is used to measure age-life deterioration, it should take into account both incurable physical deterioration and ordinary incurable functional obsolescence for a building the age of the property being appraised.