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Preferred term

depreciation of property  

Definition

  • Depreciation of property relates to the declining value of a real estate asset over time. By and large, depreciation of property is an accounting methodology used in calculating the year-to-year reduced value of an eligible property class that is then reported on the income tax returns and financial statements of private sector investors and business entities. [Source: The Encyclopedia of Housing; Depreciation of Property]

Broader concept

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URI

https://concepts.sagepub.com/social-science/concept/depreciation_of_property

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