(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 & Swift Valuation Service Guide 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.

(4) The trend and depreciation schedule referred to in (2) and (3) is listed below.

 

YEAR NEW/ ACQUIRED	% GOOD	TREND FACTOR	TRENDED % GOOD
2017	92%	1.000	92%
2016	84%	1.016	85%
2015	76%	1.008	77%
2014	67%	1.018	68%
2013	58%	1.031	60%
2012	49%	1.039	51%
2011	39%	1.069	42%
2010	30%	1.102	33%
2009	24%	1.094	26%
2008 and older	21%	1.126	24%

 

(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.

(5) This methodology is effective for tax years beginning after December 31, 2017.