(1) The average market value of ski lift equipment, which is classified as aerial lifts, surface lifts, portable lifts and tows and which include the towers, cables, ropes, sheave assemblies, the conveying devices, power units, and all accessories, shall be determined by trending and depreciating the original installed cost on an age/life basis to compensate for ordinary physical deterioration and/or functional obsolescence.

(2) The "average of all" industry trend factors as indicated by the Marshall Valuation Service shall be used.

(3) The depreciation schedules shall be determined by the life expectancy of the equipment and will normally compensate for the loss in value due to ordinary wear and tear, offset by reasonable maintenance, and ordinary functional obsolescence due to the technological changes during the life expectancy period.

DEPRECIATION TABLE FOR SKI LIFT EQUIPMENT
YEAR NEW/ ACQUIRED	% GOOD	TREND FACTOR	TRENDED % GOOD
2011	92%	1.000	92%
2010	84%	1.025	86%
2009	76%	1.017	77%
2008	67%	1.046	70%
2007	58%	1.087	63%
2006	49%	1.147	56%
2005	39%	1.200	47%
2004	30%	1.290	39%
2003	24%	1.335	32%
2002 and older	20%	1.357	27%

(a) The taxpayer must initially list with the department:

(i) all equipment by year of installation; and

(ii) installed costs of that equipment.

(b) Each year thereafter, the taxpayer must list with the department:

(i) all additions or deletions from the previous year's list, with installed cost.

(4) This methodology is effective for tax years beginning after December 31, 2011.