@socalpatrick5 what I understand from your post is
(a) you bought a rental property for 585,000 plus closing costs "C"
(b) you did not have current allocation for land vs. improvement and so used a land value of 97,000
(c) Thus your depreciation for the tax year 2023 and follow on year may need to be adjusted.
(d) Note that your total basis in the property has not changed -- it is still 585,000 + C
(d) From the figures you quote of Country assessor's valuation ( which is usually lower than FMV), the land value is approx. 30% of the total.
I think , in the long run you will be better served ( for Gain and recapture purposes ) to amend your 2023 return to adjust the land value. This would reduce your depreciation for the year. Then use that amended return as basis for your 2024 return. This now will fix your depreciation schedule here onwards.
That is my opinion --
