Section 50IAC3.3-5-1. Criteria for valuation

   (a) County assessors or township assessors, if any, shall use the standard of true tax value as set forth in the department of local government finance real property assessment rules in the assessment of mobile homes.

  (b) All annually assessed mobile homes assessed after January 14, 2007, shall have a true tax value set at the least of the values determined using:

(1) the National Automobile Dealers Association Guide;

(2) the purchase price of the mobile home if the:

(A) sale is of a commercial enterprise nature;

(B) buyer and seller are not related by blood or marriage; and

(C) sale date is within one (1) year prior to or subsequent to the January 15 valuation date; or

(3) sales data for generally comparable mobile homes.

(Department of Local Government Finance; 50 IAC 3.3-5-1; filed Aug 15, 2007, 10:12 a.m.: 20070912-IR-050060560FRA; filed Jan 12, 2012, 10:45 a.m.: 20120208-IR-050110567FRA)

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