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Feb082013

Depreciation Schedules Explained

The sigerTax system allows you to store and track the Depreciation Schedules used by Assessors to determine the value of an asset.  These schedules can be "Percent-Good" tables, "Trend" factors, or any combination used to adjust an asset's value.  In the sigerTax system, Depreciation Schedules can be found in the Annual Information tab of the Assessor Screen.

Standard state-wide Deprecation Schedules are linked to the Assessor State Default record. When a new Assessor is added to the system, state Depreciation Schedules are added automatically with a blue background to differentiate the state schedules from the Assessor-Specific schedules. More schedules can be added to the specific assessor by right-clicking on the schedule list and selecting <Add Schedule>. A New Depreciation Schedule form will open. It is also possible to copy schedules from a spreadsheet into the New Depreciation Schedule form. 

Once the Depreciation Schedules are entered, you can assign Asset Classes to them on the Depreciation Schedules tab or you can assign Depreciation Schedules to Asset Classes on the Asset Classes Tab.  Again, if these assignments are made on the state-level Assessor, they will be passed down to all of the Assessors in the state.  If you make these assignments on a specific Assessor, they will override any state-level assignments.  Assets that are loaded onto returns for these Assessors will have their reported values adjusted automatically, based on the Depreciation Schedules, when you assign an asset class and a location during the load process.  You can then override these adjustments if necessary from the Load Analysis form, or on a particular asset individually.  

 

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