Posted by Ernest Tew on January 18, 2001 at 18:57:56:
Marc, unless there are changes in the tax law that i’m not aware of, multi-family rental properties including parks can be depreciated over 27.5 years.
The total depreciation deductions in a park (relative to cost)aren’t as different from apartments as one would might think. While parks may not have as many buildings, they usually have a lot of other depreciable assets, most of which are underground. Paving and all underground utilities can be depreciated–often over a shorter period of time than the buildings.