Noun. 1. specific heat-the heat required to raise the temperature of one gram of a substance one degree centigrade. heat, heat energy-a form of energy that is transferred by a difference in temperature. 1  Facebook.
You begin to depreciate your property when you place it in service for use in your trade or business or for the production of income. You stop depreciating property either when you have fully recovered your cost or other basis or when you retire it from service, whichever happens first.
If your property is not new, the PVA must estimate how much your property has depreciated. The value of the land is added to the depreciated building value. The third method is often called the INCOME APPROACH. This method takes into consideration what your property would produce in rental income.