(1) Seismograph units and allied equipment shall be valued using the cost approach to market value. The taxpayer must provide to the department the acquired cost, the year acquired, and an itemized description of each piece of equipment. The acquired cost will be trended to current replacement cost and then depreciated according to the schedules mentioned in (2).

(2) The department shall prepare a five-year trended depreciation schedule for seismograph units and a five-year trended depreciation schedule for all other allied seismograph equipment. Trend factors and depreciation factors published in the Marshall & Swift Valuation Service Guide will be used to develop the trended depreciation schedules. The trend factors shall be the most recent available from the "Chemical Industry Cost Indexes" listed in the above publication. The "% good" for seismograph units and other allied seismograph equipment less than one year old shall be 100 percent and the "% good" for equipment shall be 5 percent if acquired in 2005 and prior.

(3) For wheeled seismograph units, an additional 80 percent wholesale factor shall be used in determining market value.

(4) The trended depreciation schedules referred to in (1) through (3) are listed below and shall be used for tax year 2014.

 

SEISMOGRAPH UNIT

YEAR NEW/ACQUIRED	% GOOD	TREND FACTOR	TRENDED % GOOD	WHOLESALE FACTOR	WHOLESALE % GOOD
2014	100%	1.000	100%	80%	80%
2013	85%	1.000	85%	80%	68%
2012	69%	1.000	69%	80%	55%
2011	52%	1.027	53%	80%	43%
2010	34%	1.055	36%	80%	29%
2009	23%	1.040	24%	80%	19%
2008-2006	18%	1.077	19%	80%	16%
2005 and older	5%				5%

 

SEISMOGRAPH ALLIED EQUIPMENT

YEAR NEW/ ACQUIRED	% GOOD	TREND FACTOR	TRENDED % GOOD
2014	100%	1.000	100%
2013	85%	1.000	85%
2012	69%	1.000	69%
2011	52%	1.027	53%
2010	34%	1.055	36%
2009	23%	1.040	24%
2008-2006	18%	1.077	19%
2005 and older	5%		5%

 

(5) This rule is effective for tax years beginning after December 31, 2013.