Oklahoma Administrative Code
Title 710 - Oklahoma Tax Commission
Chapter 10 - AD Valorem
Subchapter 10 - Visual Inspection Plan
Part 5 - DIRECTION AND GUIDANCE
Section 710:10-10-23 - Improved property

Material related to cost estimates, depreciation, and local market adjustment factors shall be included in the visual inspection plan. The county shall make a careful analysis of the replacement cost of newly constructed buildings and analyze local sales data in order to arrive at appropriate cost estimates, depreciation percentages and the two local market adjustment factors required to calibrate the cost system. The county shall study and analyze the useful life expectancies and observed condition of recently sold buildings in the preparation of value. The market sales data shall receive the most attention in most cases.

Added at 14 Ok Reg 2670, eff 6-26-97