(A) For the purposes of the town’s fixed asset inventory processes, the following standards shall be used for the estimated useful life of the equipment/property indicated:
Category | Lifespan |
Category | Lifespan |
Brick buildings | 100 years |
Drinking water systems | 40 years |
Parking lots | 50 years |
Passenger vehicles | 5 years |
Roads and/or streets (includes paved alleys) | 40 years |
Sidewalks | 10 years |
Steel buildings | 30 years |
Storm water drainage systems | 30 years |
Tractors/backhoes and the like | 5 years |
Trucks | 7 years |
Wastewater systems | 40 years |
(B) Annual resurfacing programs, painting, roofing, and the like are considered maintenance to improve and extend the life of the asset. For example, the above schedule shall not be interpreted to indicate the town is only repaving a street every 40 years.
(2005 Code, § 32.34) (Ord. G-04-47, passed 12-16-2004)