Oklahoma Administrative Code
Title 710 - Oklahoma Tax Commission
Chapter 10 - AD Valorem
Subchapter 10 - Visual Inspection Plan
Part 5 - DIRECTION AND GUIDANCE
Section 710:10-10-26 - Commercial/Industrial property

Universal Citation: OK Admin Code 710:10-10-26
Current through Vol. 42, No. 1, September 16, 2024

As part of the visual inspection plan, all commercial/industrial properties shall be inspected and appraised from schedules and guidelines as set out in the most current STATE OF OKLAHOMA COMMERCIAL APPRAISAL MANUAL, and all building features, components, or characteristics, as outlined therein, shall be identified, measured and listed. The year of the building construction shall be obtained and listed. Other improvements, such as paved drives, fencing, mechanical features and equipment, and similar structures, shall be identified, measured and listed. Occupancy of each building shall be determined at the time of inspection and recorded along with other pertinent information that could affect value. Appraisal procedures of listing, measuring, and year built shall be followed as detailed in the commercial/industrial property manual. Lease or rental information shall be requested from either owners or tenants, when applicable. The income approach, the cost approach, and the sales comparison approach shall be considered in arriving at the final property value, when sufficient data is available. The appraisal of all commercial property shall be supported by detailed computations.

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

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