Help with Depreciation

[Eric H.]

I'm wondering how you determine the depreciation on a rental.

Let's say you buy a property that was just rehabbed and buy it for $100k and it gets appraised for $100k.

You look at the tax assessment and it says the land is worth $10k and the improvements is worth $50k.

When you depreciate the value of the property would you do $100k - $10k = $90k or would you scale up the land value with the new appraised value?

So on the assessment it shows 1/5 of the value is land originally so with the new appraised value and purchase price would you assume the land is worth $20k now and the property $80k? Therefore depreciating $80k?