external obsolescence

external obsolescence

Same as economic obsolescence.
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References in periodicals archive ?
The Tax Court then issued a new order in 2016 that again addressed external obsolescence and made findings and conclusions regarding the value of relator's property.
Supreme Court Digest: April 10, 2019
Kansas Star's appraiser performed a combined functional and external obsolescence analysis and found 52% obsolescence due to super-adequacy.
Superadequacy is a form of functional obsolescence affecting tax assessment value
Appraisers refer to this as external obsolescence, which is depreciation caused by external factors not on the property.
Everybody loves good neighbors ... because bad ones cost a lot
Deterioration is the physical decline in a building's fabric due to: Extensive use The effect of the elements The ravages of time Obsolescence however is down to: A change in user requirements (functional obsolescence) A building's competitive usefulness and value (economic obsolescence), or The impact of nearby development and accessibility (external obsolescence).
Obsolescence - Tempus Fugit?
They're not finding the cost approach any easier, either, because there are fewer properties to support an estimate of external obsolescence.
Comp out: Guide Note 11 can help appraisers determine comparable sales in a declining market
** External obsolescence adjustments of 25-35 percent applied to the manufacturing equipment and CWIP.
How to uncover property tax savings opportunities
The cost approach is useful in determining depreciation values for physical deterioration, or functional or external obsolescence, as applied to the market approach.
"Who's your data?"
Economic conditions in the area, or within the industry, can cause economic or external obsolescence to the real estate your company owns or leases.
Avoid overpaying nursing home property taxes: a primer on the pitfalls leading to unnecessary overhead
The four common forms of obsolescence are physical deterioration, functional obsolescence, technological obsolescence, and external obsolescence. Physical deterioration may affect sports intangibles such as player contracts.
Sports franchise acquistions: valuation of intangible assets. part 2 of 2
Economic obsolescence, also called external obsolescence, is defined as "a loss in value caused by factors outside a property." Economic obsolescence can be attributable to such influences as political and social factors, insufficient demand, changing technology, costs attributed to governmental regulations and negative economic conditions.
Classification and valuation issues affecting the ad valorem taxation of business tangible personal property
In the earlier proceeding, the Supreme Court largely affirmed the Tax Court's valuation decision, remanding only for further findings on the beta-factor calculation and reconsideration of relator's external obsolescence argument.
Supreme Court Digest: March 21
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.
Valuation of casinos: risky business

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