Does anyone know a good online source to figure out the average land-to-building property ratio for various areas of the country. A lot of times client says he bought a rental house for $50000, and I need to figure out how much was land vs building for depreciation purposes. Any help out there?
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The local county or city real estate tax assessment will give you this information. This is sent to the TP every year for his specific property and is used to calculate his real estate taxes. It breaks down land from bldgs. There is no general ratio one could use as it would vary too much depending on location. -
Sale
Also, read the sale contract and all sale documents which might break out land from building from personal property purchased.Comment
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Land versus building
Our property tax statements separate the land from the building. I use that ratio in calculating the land.
Another possibility is the insured value of the building.Jiggers, EAComment
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