(1) Seismograph units and allied equipment shall be valued using the cost approach to market value. The taxpayer must provide to the department the acquired cost, the year acquired, and an itemized description of each piece of equipment. The acquired cost will be trended to current replacement cost and then depreciated according to the schedules mentioned in (2) .

(2) The department shall prepare a five-year trended depreciation schedule for seismograph units and a five-year trended depreciation schedule for all other allied seismograph equipment. Trend factors and depreciation factors published by "Marshall and Swift Publication Company" will be used to develop the trended depreciation schedules. The trend factors shall be the most recent available from the "Chemical Industry Cost Indexes" listed in the above publication. The "% good" for seismograph units and other allied seismograph equipment less than one year old shall be 100% and the "% good" for equipment more than five years old shall be 5%.

(3) For wheeled seismograph units, an additional 80% wholesale factor shall be used in determining market value.

(4) The trended depreciation schedules referred to in (1) through (3) are listed below and shall be used for tax year 2007.

SEISMOGRAPH UNIT 

YEAR NEW/	%	TREND	TRENDED	WHOLESALE	WHOLESALE
ACQUIRED	GOOD	FACTOR	% GOOD	FACTOR	% GOOD
2007	100%	1.000	100%	80%	80%
2006	85%	1.000	85%	80%	68%
2005	69%	1.041	72%	80%	57%
2004	52%	1.130	59%	80%	47%
2003	34%	1.169	40%	80%	32%
2002	20%	1.193	24%	80%	19%
2001 and older	5%	1.199	6%	80%	5%

 

 

SEISMOGRAPH ALLIED EQUIPMENT

YEAR NEW/		TREND	TRENDED
ACQUIRED	% GOOD	FACTOR	% GOOD
2007	100%	1.000	100%
2006	85%	1.000	85%
2005	69%	1.041	72%
2004	52%	1.130	59%
2003	34%	1.169	40%
2002	20%	1.193	24%
2001 and older	5%	1.199	6%

 

(5) This rule is effective for tax years beginning after December 31, 2006.