(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
2013	92%	1.000	92%
2012	84%	1.007	85%
2011	76%	1.036	79%
2010	67%	1.068	72%
2009	58%	1.060	61%
2008	49%	1.091	53%
2007	39%	1.134	44%
2006	30%	1.196	36%
2005	24%	1.251	30%
2004 and older	21%	1.345	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, 2013.