What is the term for the loss in value from all causes?

The term that describes the loss in value from all causes is depreciation. This concept encompasses various factors that can lead to a decrease in the value of an asset over time. Depreciation can occur due to wear and tear, obsolescence, or market conditions, among other reasons. It is widely used in accounting and taxation to determine the value of personal property, reflecting the economic reality that most assets lose value as they age or as better alternatives become available.

In contrast, amortization refers specifically to the gradual repayment of a debt over time, generally involving fixed payments to reduce the principal amount, and is not applicable to losses in value directly. Appreciation refers to an increase in an asset's value, while devaluation indicates a reduction in value often associated with currency value in international trade context. Thus, in the context of assessing personal property, depreciation accurately captures the idea of a general loss in value from various causes.