Depreciation Exp
Hi-
I just started looking at properties
3-4 fam rentals in Jersey city.
pls correct me if I'm wrong but from what I've read, I can depreciate the purchase price minus the land over 27.5 years.
How do I find the value of the land, also, is their a rule of thumb for quick estimates. (ie: % of purchase price)
thanks in advance, this is a great website , I've learned alot.
In California the tax bill gives you two assessed numbers - one for land other for improvements.
Simple rule of thumb in most markets is 80% improvements, 20% land.
[addsig]