reproduction cost

reproduction cost

The cost of exactly duplicating an improvement as of a certain date.Contrast with replacement cost. An example is an historic building with high coffered ceilings and deep solid-maple crown molding that has been converted to office space with a drop-in grid ceiling that hides the older details.The reproduction cost would include the cost to build a structure with the same high ceilings and the same crown molding.The replacement cost might be the cost to build a structure with normal 8-foot ceilings constructed of ceiling tiles.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.