Sentences with phrase «property less depreciation»

Provides payment based on the cost to repair or replace damaged property less depreciation at the time of loss.

This amount is usually calculated as the cost of the property less depreciation.

Not exact matches

Actual cash value (ACV) is the cost to replace it with new property of similar style and quality, less depreciation.

The insured claimed in each case that the insurer's letter and attached «STANDARD REPORT,» when read together, gave rise to a legal obligation to determine the «actual cash value» of the property on the basis of a replacement cost less ten percent depreciation, an amount more than that determined due by the insurer and later by a referee.

Actual cash value of property is usually less than the replacement cost since depreciation decreases it.

Actual Cash Value Cost to repair or replace damaged property with materials of like kind and quality, less depreciation.

The cost of repairing or replacing damaged property with property of the same kind and quality, less depreciation (i.e., in the same physical condition as the original property prior to damage).

The second, and less desirable, insurance is actual cash value that will pay you an amount equal to the replacement value of the damaged property minus depreciation.

Actual Cash Value: The fair market value of property; technically, replacement cost less depreciation.

Replacement cost less physical depreciation and obsolescence is the amount that an insurance company will pay for an insured property after it considers the diminished value because of wear and tear or because new technology has replaced it in the market.

Geico defines ACV as «The fair market value of property; technically, replacement cost less depreciation.»

The nicer property is also easier to finance, enabling you to get some reasonable leverage and get the extra depreciation tax benefits that entails, gets more money invested quicker with less effort in finding properties, and the total closing costs will be much less than getting loans on multiple smaller properties.

Depreciation, a tax benefit of income property, is determined by the improvement value at the time of purchase or at the conversion to a rental whichever is less.

When a principal residence is converted to rental property, its basis for depreciation purposes is the lesser of:

In general, the adjusted tax basis of a principal residence is the cost of the property (i.e., what you paid for the property when you first purchased it), plus amounts paid for capital improvements, less any depreciation and casualty losses claimed for tax purposes.

Basis of Property Changed to Rental Use When you change property you held for personal use to rental use (for example, you rent your former home), the basis for depreciation will be the lesser of fair market value or adjusted basis on the date of conProperty Changed to Rental Use When you change property you held for personal use to rental use (for example, you rent your former home), the basis for depreciation will be the lesser of fair market value or adjusted basis on the date of conproperty you held for personal use to rental use (for example, you rent your former home), the basis for depreciation will be the lesser of fair market value or adjusted basis on the date of conversion.

Typically, by selling or disposing of your investment property you will trigger Federal and state capital gain and depreciation recapture income taxes, which will leave you with much less to reinvest.

Except for cheap and less durable vehicles such as bicycles, such vehicles count as capital expenses on which the property manager must claim depreciation over a number of years instead of deducting the entire purchase amount at once.