When assessing Super Adequacy, what must be combined with current costs?

When assessing Super Adequacy, combining current costs with the depreciation already charged provides a comprehensive understanding of the property's economic performance. Super Adequacy refers to the situation where a property has enhancements or features that provide levels of utility or service exceeding what is typically expected for similar properties in the market.

To properly evaluate these enhancements, it's essential to consider the current costs of improvements or features that might be excessive compared to market standards. However, understanding the effective contribution of those features requires an assessment of how much value has already been diminished due to depreciation. This insight into depreciation helps assess the true economic viability and impacts of those super adequate features, ultimately leading to a more accurate appraisal.

In contrast, while the market value of the existing property, the existing cost of land, and the location of the property can all influence overall value, they do not directly inform the evaluation of super adequacy itself in the same way that consideration of depreciation does. Therefore, focusing on depreciation is key to effectively assessing the impact of super adequacy on the overall value of the property.