[Code of Federal Regulations]

[Title 24, Volume 1]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR17.48]



[Page 211-212]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 17_ADMINISTRATIVE CLAIMS--Table of Contents

 

  Subpart B_Claims Under the Military Personnel and Civilian Employees 

                           Claims Act of 1964

 

Sec.  17.48  Computation of amount of award.



    (a) The amount allowed for damage to or loss of any item of property 

may not exceed the cost of the item (either the price paid in cash or 

property, or the value at the time of acquisition if not acquired by 

purchase or exchange); and there will be no allowance for replacement 

cost or for appreciation in the value of the property. Subject to these 

limitations, the amount allowable is either:

    (1) The depreciated value, immediately prior to the loss or damage, 

of



[[Page 212]]



property lost or damaged beyond economical repair, less any salvage 

value; or

    (2) The reasonable cost of repairs, when property is economically 

repairable, provided that the cost of repairs does not exceed the amount 

allowable under paragraph (a)(1) of this section.

    (b) Depreciation in value is determined by considering the type of 

article involved, its cost, its condition when damaged or lost, and the 

time elapsed between the date of acquisition and the date of damage or 

loss.

    (c) Replacement of lost or damaged property may be made in kind 

whenever appropriate.