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<br />not requiring maintenance or replacernent; or exhaustible, e,g" parking lots, landscaping and <br />fencing. <br /> <br />. <br /> <br />Examples of items to be capitalized as land and land improvements include: <br /> <br />. Purchase price or fair value at time of gift; <br />. Commissions; <br />. Professional fees, includes title searches, architect, legal, engineering, appraisal, <br />surveying, environmental assessments; <br />. Land excavation, fill, grading, and drainage; <br />. Demolition of existing buildings and improvements, less salvage; <br />. Removal, relocation, or reconstruction of property owned by others, i.e., power, <br />telephone and railroad lines; <br />. Interest on mortgages accrued at date of purchase; <br />. Accrued and unpaid taxes at date of purchase; <br />. Other costs incurred in acquiring the land; <br />. Water wells, including initial cost for drilling, the pump and its casing; and <br />. Pennanent right-of-way. <br /> <br />Other Improvements include land improvements that are exhaustible in nature and enhance the <br />quality or facilitate the use of land for a specific purpose, <br /> <br />Examples of items to capitalize as other improvements include: <br /> <br />. Fencing and gates; <br />. Landscaping; <br />. Parking lost, driveways, and parking barriers; <br />. Outdoor sprinkler and irrigation systems; <br />. Recreation areas and athletic fields, including bleachers; <br />. Golf courses; <br />. Paths and trails; <br />. Septic systems; <br />. Swimming pools, tennis courts, basketball courts, skate parks; <br />. Fountains, <br />. Plazas and pavilions; and <br />. Retaining walls, <br /> <br />. <br /> <br />Buildings refer to a structure that is permanently attached to the land, has a roof, is partially or <br />completely enclosed by walls, and is not intended to be transportable or moveable, Certain <br />buildings or structures that are ancillary parts of infrastructure nelworks, such as well houses and <br />pumping stations will be reported as infrastructure rather than as buildings. <br /> <br />Examples of items to be capitalized as buildings: <br /> <br />Purchased Buildings <br /> <br />. Original purchase price; <br />. Expenses for remodeling, reconditioning, or altering a purchased building to make it <br />ready for its intended purpose; <br /> <br />. <br /> <br />6 <br />