What method is used to measure incurable physical deterioration?

The age life method is utilized to measure incurable physical deterioration by estimating the economic life of a property. This method relies on the principle that as a property ages, its value diminishes over time due to wear and tear, even if the property is maintained.

In this approach, the total depreciation of a property is calculated based on its age and remaining useful life. The age life method provides an effective way to quantify physical deterioration that cannot be remedied, allowing appraisers and assessors to determine the impact of long-term wear on the property’s value.

This understanding is essential in property assessments, especially when properties have certain forms of deterioration that would not be cost-effective to fix. The method offers insights into how much value the deterioration has subtracted from the property, ensuring that assessments reflect the true economic state of a property.