Summary


Section 59-2-107 authorizes the State Tax Commission to promulgate rules that define classes of items considered to be personal property and provide valuation percent good schedules to value locally assessed personal property. County assessors must use the percent good schedules as contained in this rule. Any deviation which affects an entire class or type of personal property requires a written report documenting the schedule change to be submitted to the Tax Commission for approval prior to use. Class 7, Medical and Dental Equipment, and Class 8, Machinery and Equipment, have identical depreciation schedules. In an effort to simplify the classifications and reduce confusion, these two classes are being combined for 2019. All items formerly classified as Class 7 are moved to Class 8, and Class 7 is stricken from the administrative rule.