external obsolescence

external obsolescence

Same as economic obsolescence.
References in periodicals archive ?
All of these developments factor into the valuation of casino real property, as they represent the elements that create both functional and external obsolescence, which must be accounted for in each of the three valuation methods discussed next.
Appraisers refer to this as external obsolescence, which is depreciation caused by external factors not on the property.
They're not finding the cost approach any easier, either, because there are fewer properties to support an estimate of external obsolescence.
External obsolescence adjustments of 25-35 percent applied to the manufacturing equipment and CWIP.
The cost approach is useful in determining depreciation values for physical deterioration, or functional or external obsolescence, as applied to the market approach.
Economic obsolescence, also called external obsolescence, is defined as "a loss in value caused by factors outside a property.
Additionally, Guardian claimed the tax court had improperly calculated external obsolescence.
On the positive side, many businesses--and not only manufacturers--can take advantage of external obsolescence caused by the economic crunch to reduce the assessed value of their property and, in turn, their property taxes.
Other forms of depreciation include functional obsolescence and external obsolescence.
Also, the subject property is no longer required to suffer from functional or external obsolescence.
Entrepreneurial profit, entrepreneurial incentive, and external obsolescence are contentious issues.
While these properties many times involve built-to-suit and sale-leaseback situations, these are not indications, by themselves, that massive amounts of functional or external obsolescence exist in the marketplace.

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