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accurately. Replacement cost can only be used if properly <br /> depreciated. Certified appraisals must be based on the <br /> comparable sales method. The land value must be deducted and it <br /> must be equal to or greater than that established by the County <br /> Assessor. The building value must be fairly depreciated to reflect <br /> the age of the building and the deterioration of building <br /> components. <br /> D. COSTS TO BE INCLUDED <br /> The construction costs to be calculated for both substantial <br /> damage and improvement include both structural and finish labor <br /> and materials. This includes lighting fixtures, built-in appliances, <br /> interior moldings, paneling, tiling, wall-to-wall carpet over sub- <br /> flooring, built-in cabinets, etc. The cost to demolish undamaged <br /> building components must be established and included. Overhead <br /> and profit are also included, but not the cost of permits. Many of <br /> these costs are not normally calculated for purposes of a building <br /> permit, nor are they regulated as part of the Building Code. But, <br /> they must be calculated for compliance with the 50% Rule. <br /> E. WHEN MAPS ARE REVISED <br /> Substantial Damage and Substantial Improvement can affect Post- <br /> FIRM buildings. If the FIRMs are revised, and the flood elevations <br /> increase, many Post-FIRM buildings may be affected. The 50% <br /> rule applies to them now as well. So, check the FIRMs find out <br /> what flood elevation was in effect when the building was <br /> constructed, and what it is today. All additions to a Post-FIRM <br /> structure must be elevated to or above the current BFE, whether <br /> they are "substantial" or not. <br /> F. CUMULATIVE COSTS <br /> Substantial Damage and Substantial Improvement are subject to <br /> "cumulative" clauses in many community ordinances. FEMA <br /> generally requires that all separate permits for the same structure <br /> within a 1-2 year period are a single improvement and/or repair. <br /> This period runs from the date of final inspection or Certificate of <br /> Occupancy, not from the date the building permit was issued. <br /> Some communities require 5, 10, 50, years or the life of the <br /> structure. Check it out first. NOTE: The State of Florida requires a <br /> minimum five year cumulative period in the Coastal Building Zone, <br /> including all FEMA V-Zones and most barrier islands. <br /> Indian River County Comprehensive Emergency Management Plan Annex III - Page 15 <br />