NAC361.266. “Depreciation” defined.

Latest version.

“Depreciation,” in an appraisal sense, means the loss in value of an item due to all causes. Sometimes it is meant to be physical deterioration, but in a strict sense it would include functional and economic obsolescence.

[Tax Comm’n, Property Tax Reg. part No. 15, eff. 10-30-79]

                    
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