The town will only depreciate capital assets that are property of the sewer or water departments. The straight-line method of depreciation shall be used along with a life expectancy listed for the business like assets. Land is never depreciated. No salvage value shall be used for the fixed assets. Depreciation for other capital assets will be calculated beginning with the second year following the purchase of the asset. The remaining values for assets will be calculated annually.
(Ord. 2018-4, passed 2-14-2018)