Is It necessary to calculate a dollar value for depreciation when using sales comparison approach?

Yes, calculating a dollar value for depreciation is necessary when using the sales comparison approach, as it helps to adjust the sale prices of comparable properties to reflect their current condition and value. Depreciation accounts for factors such as physical wear and tear, functional obsolescence, and economic obsolescence, ensuring that the appraised value accurately represents the market value of the property. Without considering depreciation, the appraisal may overestimate the value, leading to inaccurate assessments.