(1) The market value of furniture and fixtures is determined by multiplying an indexed depreciation factor times the installed acquired cost of the property. The department has established seven specific categories and one general category to determine specific trend factors for this type of property. Each specific category uses data particular to the type of property in the category. The indexed depreciation factor is the product of the trend factor (based on age and category of property) times the depreciation factor from the appropriate table.

(2) This rule is effective for tax years beginning after December 31, 1990.