Unserviceable property which can no longer be repaired or reconditioned and waste materials shall be appraised at scrap or junk value.
(Reference: Section 4.5.1 of the COA Manual on Appraisal)
For waste materials and property which are unserviceable and can no longer be repaired/reconditioned, the end user shall determine the unserviceability of the property and shall be supported with the history/record of checklist of unserviceable vehicles/heavy equipment.
AV = Junk value
Where junk value is based on prevailing price of scrap metal or lumber, whichever is appropriate.
Canvass for the current market price per unit weight and multiply for the actual weight of the waste materials /property to get the appraised value.
Computers and their peripherals shall be appraised based on their junk value to obsolence brought about by the rapid change and development in the industry.