Depreciation Calculations-please help to figure it out

[Mary Jay]

Hey guys,

I feel like Ive always struggled with depreciation concept...

So, Ive been googling it, and here is what I found:

Let’s say you buy a single-family home for $200,000. The tax assessor’s estimate of the land value
is $75,000, and the building value estimate is $125,000. Your
depreciation expense that you take each year against rental income would
be $125,000 divided by the IRS allowed 27.5 years of useful life (residential real estate)
for a depreciation expense each year of $4,545. So thanks to that
depreciation expense, you are saving (assuming you can use passive
activity losses) $4,545 multiplied by your marginal tax rate (which is a
topic for another day). This could be tax savings from $1,000 to $2,000
per year, just for the depreciation amount.
https://www.zillow.com/blog/ta...

So, do understand correctly, if I am in a 30% tax bracket, then that $4,545 I need to multiply by 0.3 (because of 30%) to calculate how much tax depreciation will save me? So:
$4,545  multiply by 0.3 =$1350 less I will pay in taxes? Correct?

Does it apply to my house as well? Or only rentals?