Cost-depreciation Approach

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Definition:  A system for estimating the market value of property based on the cost to buy the site and to construct a new building on the site, less depreciation.

Pronunciation:   \ˈkȯst\ \di- prē-shē-ˈā-shən\ \ə-ˈprōch\

Used in a Sentence:   The contractor used the cost-depreciation method to calculate the cost to construct a building on the site.

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