Economic obsolescence definition

Economic obsolescence means the loss in value from replacement cost new less physical deterioration and functional obsolescence due to the impairment in utility and desirability caused by factors external to the land on which the building or structure is located;
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Economic obsolescence means a loss in value of a property arising from factors such as changes in use, legislation that restricts or impairs property rights, or changes in supply and demand relationships.
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Economic obsolescence means obsolescence caused by factors extraneous to the property. It is also referred to as external obsolescence. (2011 Real Property Assessment Manual and Guidelines Book 2, Glossary, pg. 8)
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Examples of Economic obsolescence in a sentence

  • Economic Obsolescence: Economic obsolescence must be proved on a case-by-case basis to the Tax Assessor.

  • Economic obsolescence has also been factored into the depreciated replacement cost calculation.

  • Economic obsolescence is generally a result of building or site improvements that cause some degree of market rejection, resulting in a diminished market value of the property for its original intended use.

  • Economic obsolescence of human capital affects the value of the human capital of workers and is caused by changes in the job or work environment.

  • Economic obsolescence exists off the property and it is out of the direct control of the property owner.

  • I haven't seen a thicker book and every page is filled with the hardest maths problems in the world.

  • The determination of useful life should be developed as part of any pre-acquisition planning that would consider, inter alia, the following factors: o The program that will optimise the expected long term costs of owning that asset, o Economic obsolescence because it is too expensive to maintain, oFunctional obsolescence because it no longer meets the municipality’s needs, o Technological obsolescence, o Social obsolescence due tochanging demographics, and o Legal obsolescence due to statutory constraints.

  • Economic obsolescence depreciation is defined as “obsolescence caused by factors extraneous to the property.” 50 IAC 2.2-1-24.

  • Economic obsolescence is “the loss in value or usefulness of a property caused by factors external to the asset,” including increased costs, reduced demand, increased competition, regulation, or similar factors.7 “[E]conomic obsolescence is usually a function of outside influences that affect an entire business .

  • Economic obsolescence includes three types obsolescence; i.e. job specific skills obsolescence, skills obsolescence by sectoral shifts, firm-specific skills obsolescence.In the present study, the debate mainly depends on the concept of economic obsolescence.


More Definitions of Economic obsolescence

Economic obsolescence means obsolescence caused by factors extraneous to the property. Also referred to as “economic depreciation.”
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Economic obsolescence means, with
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Economic obsolescence means obsolescence caused by factors extraneous to the property.
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Economic obsolescence means, as of any date of determination, the Economic Obsolescence as shown on the most recent general ledger report of Borrower consistent with past practices delivered to Agent in accordance with this Agreement, or if not so delivered or shown thereon, as otherwise determined by Agent in its reasonable credit judgement.
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Economic obsolescence means, with respect to valuation for property taxation purposes, loss in value of a property caused by unfavorable economic influences or factors outside of the property; "economic obsolescence" is a loss in value in addition to a loss in value attributable to physical depreciation;
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Economic obsolescence means the impairment of desirability or useful life arising from factors external to the property, such as economic forces or environmental changes which affect supply-demand relationships in the market. Loss in value due to economic obsolescence is distinguished from loss in value due to physical deterioration or func- tional obsolescence. Economic obsolescence is also referred to as locational or environmental obsolescence.
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Related to Economic obsolescence

  • Intrinsic Loss Estimate means total losses under the shared loss agreements in the amount of One hundred Sixty-eight million dollars ($168,000,000.00).

  • Economic loss means any economic detriment suffered by a victim as a direct and proximate result of the commission of an offense and includes any loss of income due to lost time at work because of any injury caused to the victim, and any property loss, medical cost, or funeral expense incurred as a result of the commission of the offense. "Economic loss" does not include

  • SF1-4 Intrinsic Loss Estimate means total losses under this Single Family Shared-Loss Agreement in the amount of eleven million dollars ($11,000,000.00).

  • Net Working Capital Target means $0.00.

  • Shrinkage means the allowance for loss in weight of Grain that occurs during the storage and handling and transport process.

  • Depreciation means, for each fiscal year, an amount equal to the federal income tax depreciation, amortization, or other cost recovery deduction allowable with respect to an asset for such year, except that if the Carrying Value of an asset differs from its adjusted basis for federal income tax purposes at the beginning of such year or other period, Depreciation shall be an amount which bears the same ratio to such beginning Carrying Value as the federal income tax depreciation, amortization, or other cost recovery deduction for such year bears to such beginning adjusted tax basis; provided, however, that if the federal income tax depreciation, amortization, or other cost recovery deduction for such year is zero, Depreciation shall be determined with reference to such beginning Carrying Value using any reasonable method selected by the General Partner.

  • Working Capital Target means $0.

  • Target Working Capital Amount means $75,000,000.

  • Target Net Working Capital Amount means $5,000,000.

  • Consolidated Working Capital Adjustment means, for any period of determination on a consolidated basis, the amount (which may be a negative number) by which Consolidated Working Capital as of the beginning of such period exceeds (or is less than) Consolidated Working Capital as of the end of such period.

  • Net Working Capital Adjustment means (a) the amount by which Net Working Capital as of immediately prior to the Closing exceeds Target Net Working Capital or (b) the amount by which Net Working Capital as of immediately prior to the Closing is less than Target Net Working Capital, in each case, if applicable; provided, that any amount which is calculated pursuant to clause (b) above shall be deemed to be a negative number.

  • Estimated Working Capital Adjustment means the amount by which the Estimated Working Capital is greater or less than the Base Working Capital, any such excess amount being treated as a positive number and any shortfall being treated as a negative number;

  • Estimated Net Working Capital has the meaning set forth in Section 2.3(a).

  • Net Working Capital Amount means, with respect to a Participating McNeil Partnership, the excess of the Positive Excess Cash Balance of such Participating McNeil Partnership over the cash on hand of such Participating McNeil Partnership immediately prior to the Effective Time.

  • Nonconforming structure means a structure the size, dimension

  • Operating Income means the Company’s or a business unit’s income from operations but excluding any unusual items, determined in accordance with generally accepted accounting principles.

  • Simulated Depletion means, with respect to an oil and gas property (as defined in Section 614 of the Code), a depletion allowance computed in accordance with federal income tax principles (as if the Simulated Basis of the property was its adjusted tax basis) and in the manner specified in Treasury Regulation Section 1.704-1(b)(2)(iv)(k)(2). For purposes of computing Simulated Depletion with respect to any property, the Simulated Basis of such property shall be deemed to be the Carrying Value of such property, and in no event shall such allowance for Simulated Depletion, in the aggregate, exceed such Simulated Basis.

  • Estimated Closing Net Working Capital has the meaning set forth in Section 2.6(a).

  • COGS means the cost of goods sold as determined in accordance with U.S.GAAP;

  • Working Capital Adjustment has the meaning set forth in Section 2.5(a).

  • Unadjusted Benchmark Replacement means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.

  • Operating Cash Flow means the Company’s or a business unit’s sum of Net Income plus depreciation and amortization less capital expenditures plus changes in working capital comprised of accounts receivable, inventories, other current assets, trade accounts payable, accrued expenses, product warranty, advance payments from customers and long-term accrued expenses, determined in accordance with generally acceptable accounting principles.

  • Economic Value – means the value of the Company and of its shares, to be determined by a specialized company by using a recognized methodology or based on another criterion to be defined by the CVM.

  • Corrective Measure means a measure as defined in Article 3, point 16, of Regulation (EU) 2019/1020;

  • Adjusted Net Operating Income means, with respect to a Property for any given period, Net Operating Income of such Property for such period minus Capital Reserves for such period.

  • reasonable measures means appropriate measures which are commensurate with the money laundering or terrorism financing risks;