HOUSING DEPRECIATION AND OPTIMAL TAX POLICY

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Abstract
In spite of the importance and controversy of real property depreciation allowances, little empirical work has been done on the subject. This paper is based on an empirical analysis of housing structure value and age. Depreciation estimates of single family houses and apartment buildings are derived from regression analysis. The time rate of depreciation for residential buildings, as derived from this research, is approximately 0.7 percent per annum, much lower than that allowed by current IRS policy.

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