(1) Industrial properties are appraised by industrial appraisers and the resulting appraised values are distributed to the appropriate department field office. Industrial personal property is reappraised annually. Industrial real property is reappraised every two years.

(2) The reappraisal plan provides for industrial property to be valued as an entity; that is to say, the valuation includes both real and personal property valuation components. For valuation methodology, the department will rely upon ARM 42.22.1304 through 42.22.1310. The department will be responsible for valuing industrial property as that concept is defined in ARM 42.22.1301, 42.22.1302, and 42.22.1303.

(3) This rule applies to tax years January 1, 2015, through December 31, 2017.