(1) The average market value of ski lift equipment, which is classified as aerial lifts, surface lifts, portable lifts and tows and which include the towers, cables, ropes, sheave assemblies, the conveying devices, power units, and all accessories, shall be determined by trending and depreciating the original installed cost on an age/life basis to compensate for ordinary physical deterioration and/or functional obsolescence.

(2) The "average of all" industry trend factors as indicated by the Marshall & Swift Valuation Service Guide shall be used.

(3) The depreciation schedules shall be determined by the life expectancy of the equipment and will normally compensate for the loss in value due to ordinary wear and tear, offset by reasonable maintenance, and ordinary functional obsolescence due to the technological changes during the life expectancy period.

 

DEPRECIATION TABLE FOR SKI LIFT EQUIPMENT
YEAR NEW/ ACQUIRED	% GOOD	TREND FACTOR	TRENDED % GOOD
2012	92%	1.000	92%
2011	84%	1.027	86%
2010	76%	1.059	81%
2009	67%	1.051	70%
2008	58%	1.082	63%
2007	49%	1.124	55%
2006	39%	1.186	46%
2005	30%	1.241	37%
2004	24%	1.334	32%
2003 and older	20%	1.380	28%

 

 

(a) The taxpayer must initially list with the department:

(i) all equipment by year of installation; and

(ii) installed costs of that equipment.

(b) Each year thereafter, the taxpayer must list with the department:

(i) all additions or deletions from the previous year's list, with installed cost.

(4) This methodology is effective for tax years beginning after December 31, 2012.