(1) When determining the market value of industrial properties, department appraisers may consider, based on generally accepted appraisal principles, the cost approach, the income approach, and the market approach to value, if the necessary information is available.

(2) Extraordinary functional and/or economic obsolescence is treated on a case-by-case basis.

(3) Through the appraisal process, the department shall arrive at a valuation that most accurately estimates market value.