01.
Definitions. (3-31-22)
a. Continuing Program of Valuation.
"Continuing program of valuation" means the program by which each assessor
completes the assessment of all taxable properties each year.
(3-31-22)
b. Field Inspection. The
"field inspection" will include an observation of the physical attributes of
all structures which significantly contribute to the property value, the
visible land amenities, and a notation of any other factors which may influence
the market value of any improvements. (3-31-22)
c. Index. "Index" refers to any annual
adjustment or trending factor applied to existing assessed values to reflect
current market value. Ratio studies or other market analyses can be used to
develop indexes based on property type, location, size, age or other
characteristics. (3-31-22)
d.
Prediction of Market Value. As used in Section
63-314, Idaho Code, "prediction of
market value" means an estimate of market value. (3-31-22)
e. Category to be Assessed at Current Market
Value. The level of assessment of each category will be considered to be
current market value unless there is reasonable statistical certainty that the
category is not equalized pursuant to Section
63-109, Idaho Code, and Rule
131. (3-31-22)
02.
Plan for Continuing Program of
Valuation. The plan for continuing program of valuation will include:
(3-31-22)
a. General Contents. A parcel count
by category, the number of parcels to be appraised each year, maps that show
each of the market areas, an analysis of staff requirements, a budget analysis
that provides adequate funding for labor costs, capital and supply costs,
travel and education costs and the method of program evaluation.
(3-31-22)
b. Market Data Bank. A
market data bank including collection, verification and analysis of sales,
income and expense data, building cost information, and application of this
information to estimate market value. To mail assessment notices by the first
Monday in June as required by Section
63-308, Idaho Code, assessors
should include income and expense data submitted by property owners by the
first Monday in April. Income and expense data for low-income housing
properties receiving tax credits under Section
42 of the Internal Revenue Code
includes actual rents, the monetary benefit of income tax credits, and
expenses. (3-31-22)
c. Maps. Maps
prepared in accordance with Section
63-209, Idaho Code, which identify
characteristics of each geographic area. (3-31-22)
d. Property Record. A property record for
each parcel, complete with the assigned secondary category and property
characteristics necessary for an estimate of the current market value. Such
characteristics may include data elements as described in the International
Association of Assessing Officers (IAAO) Standard on Mass Appraisal of Real
Property and the IAAO Standard on Digital Cadastral Maps and Parcel
Identifiers. Common elements identified in these standards include: (3-31-22)
i. Date of most current physical review.
(3-31-22)
ii. Significant
improvements, buildings and structures. (3-31-22)
iii. Photographs of significant improvements.
(3-31-22)
iv. Sketches and/or blue
prints of significant improvements. (3-31-22)
v. Location data, such as market area,
neighborhood, site amenities and external nuisances. (3-31-22)
vi. Year built, effective age and/or
condition of significant improvements. (3-31-22)
vii. Land size or diagram of all taxable
parcels within the county. (3-31-22)
e. Date plan is submitted. The plan must be
submitted to the Tax Commission on or before the first Monday of February in
2017, and every fifth year thereafter. (3-31-22)
f. Request for extension. As provided in
Section 63-314, Idaho Code, a county may
request an extension to the current five (5) year county valuation plan.
(3-31-22)
i. Amended Plan. Any request for an
extension must include an amended plan incorporating an inventory of the
parcels to be appraised during the period of the approved extension. This
inventory will constitute the schedule of required appraisals for the initial
year or years of the subsequent five (5) year valuation program. Parcels
appraised during the extension will be considered appraised during both the
current and subsequent five (5) year plan valuation program periods,
maintaining the same five (5) year cycle for all counties. (3-31-22)
ii. Approval of the Extension and Amended
Plan. A county will be notified of the Tax Commission's decision regarding the
granting of an extension as provided in Section
63-314, Idaho Code, within thirty
(30) days of receipt of the written request for the extension when accompanied
by an amended plan. (3-31-22)
iii.
Approval of the Amended Plan. The Tax Commission's approval of any extension
will specify timing and nature of progress reports. (3-31-22)
iv. Voiding of the Extension. The Tax
Commission can void an extension unilaterally.
(3-31-22)
03.
Field Inspections. The methods of observation of the physical
attributes of property as described in the International Association of
Assessing Officers (IAAO) "Standard on Mass Appraisal of Real Property"
referenced in Rule 003 of these
rules should be followed to the extent that resources are available. This
includes the use of aerial photographs and other digital imaging technology
tools, which may be used to supplement, but not replace physical inspections.
(3-31-22)
04.
Testing for
Current Market Value. Assessed values will be tested annually by the Tax
Commission as described in Section
63-109, Idaho Code, and Rule
131 of these rules to determine
whether the level of assessment reflects "current market value."
(3-31-22)