Assessment of depreciation of buildings: Tiemann's model and its generalizations. Part 2
Автор: Smolyak S.A.
Журнал: Имущественные отношения в Российской Федерации @iovrf
Рубрика: Оценка всех видов собственности
Статья в выпуске: 1 (148), 2014 года.
Бесплатный доступ
We consider a model which was proposed by German appraiser Martin Tiemann in 1970 for assessing depreciation in buildings. We justify the adequacy of the model using the discounted cash flow method, and investigate the dependencies of the depreciation factors and rent multipliers on the discount rate and service life of the buildings. We demonstrate that incorporation of the inflation and property and income taxes into the Tiemann's model results only in adjustments to the discount rate. The proposed approach helps identify inconsistencies in some analytical methods used for the assessment of depreciation in buildings.
Buildings, depreciation, rent multiplier, tiemann's model, discounted cash flow method, inflation, profit tax, property tax
Короткий адрес: https://sciup.org/170172620
IDR: 170172620