(1) Commodity prices for the 2015 appraisal cycle used for the determination of income are calculated using a 10-year Olympic average of prices from Montana Agricultural Statistics for the years 2004-2013. An Olympic average throws out the high and low years and averages the remaining 8 years. The prices used for valuing agricultural land for the 2015 appraisal cycle are as follows:

(a) Spring wheat price used in the valuation of nonirrigated summer fallow and nonirrigated continuous cropped farm lands = $6.36 per bushel.

(b) Alfalfa hay price, reduced by 20 percent as required by 15-7-201, MCA, used in the valuation of irrigated and nonirrigated hay lands = $76.50 per ton.

(c) Private grazing fees used in the valuation of grazing lands = $18.08 per Animal Unit Month (AUM).

(2) The minimum value of irrigated land as determined by the methodology detailed in ARM 42.20.675 = $571.41 per acre.

(3) The statewide average grazing productivity = .21 AUMs per acre, and is used in calculating the values of:

(a) nonqualified agricultural lands; and

(b) nonproductive patented mining claims.

(4) For the 2015 appraisal cycle the capitalization rate for Class 3 agricultural land, which is used to convert an ongoing income stream into an estimate of value = 6.4 percent.

(5) For the 2015 appraisal cycle the highest productivity of nonirrigated continuously cropped farmland is 55 bushels per acre, and is used in calculating the values of specialty crop land.