Use this procedure to enter renditions for a single property record.
In addition to entering segments, you also have the option of entering subsegments on the Detail Segment: <#> for Personal Property dialog box (described in Step 5 below). Some CADs may choose to use subsegments either to roll up totals into the segments or to use only cost depreciation since it is not possible to depreciate the original cost at the segment level.
The Suppress Personal Property Info user right is not selected as a current user right. For more information about user rights, see the User Rights User Guide.
The Property <ID> -- Rendition Detail for 2018 dialog box is displayed.
The Detail Segment dialog box is displayed.
Note To set segment ownership for any of the segments, use the Owner tab on the property record.
Note The Set Percentages dialog box is displayed when you click Owners and Entities. Use this dialog box to enter the percentage of the owner or entity that the segment has.
Market Valuation Method
Example An appraiser agrees to change the value from $250,000 to $200,000, but there are 10 segments, and each segment needs to be adjusted. The Distribute Value option on the Values tab of the property record allows the user to select the value of $200,000 and distribute it.
Note To enable the Depreciation Table button, select Override.
i. Click Add.
The Personal Property Sub Segment Details: NEW dialog box is displayed.
ii. Complete fields as required, including the Calculated Value fields and Flat Value fields described below if required.
--Percent Good –Depreciation due to general wear and tear, but normally calculated using a depreciation schedule.
--Economic Percent –Depreciation due to impairment in utility or desirability due to factors outside the property's boundaries.
--Physical Percent –Depreciation due to general wear and tear.
--Overall Percent Good –Estimate of the value of a property, expressed as percentage of its replacement cost, after depreciation of all kinds have been deducted.
--Inverse Depreciation Percent –Result of calculation of total 100 percentage minus the percent good percentage.
--Calculated Value –Enables the system to calculate the value.
--Flat Value –Available for you to enter a flat value.
iii. Click OK.
The Detail Segment <#> for Personal Property dialog box is displayed.
The Property <ID> - Rendition Detail for 2018 dialog box is displayed again.
Note You can have multiple renditions on a property and use the Set Active check box to select one of them as the active rendition.