Capital assets have estimated useful lives extending beyond a single reporting period (one year) and are depreciated using the straight-line method with no allowance for salvage value. The estimated useful lives currently used were developed with the input of knowledgeable staff and reflect the government's experience with these assets. However, a shorter or longer estimated life may be used depending on factual circumstances including climate, usage, replacement policies, industry practices, and Internal Revenue Service depreciation recovery period and ADS lives:
(A) Land: non-depreciable;
(B) Improvements to land: 20 years;
(C) Buildings: 50 years;
(D) Furnishings and equipment: 5 years;
(E) Vehicles:
(1) Auto: 10 years;
(2) Light trucks: 10 years;
(3) Heavy trucks: 15 years;
(4) Heavy equipment (e.g. backhoe, clipper, vactor, sweeper, semi, etc.): 20 years;
(5) Specialty light equipment (e.g. mowers, tractors, etc.): 15 years;
(6) Specialty heavy equipment (e.g. dozers, loaders, trailers, etc.): 20 years;
(7) Police vehicles: 8 years;
(8) Fire vehicles:
(a) Towers/ladder: 20 years;
(b) Pumpers: 15 years;
(c) Auto/trucks: 10 years;
(F) General infrastructure: 50 years;
(G) Computer software: 5 years.
(Ord. 15-C-21, passed 10-26-21)