Oklahoma Administrative Code
Title 710 - Oklahoma Tax Commission
Chapter 10 - AD Valorem
Subchapter 10 - Visual Inspection Plan
Part 5 - DIRECTION AND GUIDANCE
Section 710:10-10-25 - Multi-family income producing property

Universal Citation: OK Admin Code 710:10-10-25
Current through Vol. 42, No. 1, September 16, 2024

Information related to income-producing, multifamily residential properties shall be listed in the visual inspection plan. All income-producing, multifamily residential properties shall be inspected and appraised from schedules and guidelines as set out in state rules and regulations. All building features, components, and characteristics shall be identified, measured, listed and recorded. The year of construction of the building shall be obtained and listed. Other improvements such as paved drives, fencing, pools, patios, and similar structures shall be identified, measured and listed. Occupancy units of each building shall be determined at the time of inspection and recorded along with any other pertinent information that could affect value or be used as the basis for units of comparison. Rental data or other information affecting the data collection card shall be requested from either owners or tenants. All three approaches to value shall be used where applicable with the sales comparison approach having the most weight. The appraised value of all properties shall be critique during final review by supervisory personnel and adjustments or corrections made where applicable.

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

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