carcass value

The value of a building after after deducting:

1. value of all prime cost (PC) items

2. value of furnishings such as curtains and carpets

Building value is therefore brought back to it's barebones or carcass value.


Sale price500 000
Less land-250 000
Building value250 000
Less prime cost items-50 000
Less furnishings-15 000
Carcass value185 000

         The carcass value is usually used on $/m2 basis:

 If the house is 210m2 carcass value = 881/m2

This value is used as building value evidence  vintage. If the house was built in 2002 then it is good historical evidence of the value of 2002 buildings. This value can be used in depreciation schedules for investment properties as it the best indicator of investor's cost as required under Division 40 Section 40 of the Income Tax Assessment Act 1997.