1. (a) Commercial neighborhood boundaries shall be displayed on city or county maps as appropriate.

2. (b)

   1. (1) A narrative description of each boundary line for each neighborhood shall be on file at the appraisal manager’s office.
   2. (2) In addition, a printout of the sales database and rental database used in determining the boundaries shall be kept in the same file.

3. (c)

   1. (1) Commercial neighborhoods that may be defined due to physical, economic, governmental, or social factors without the benefit of property sales are allowed.
   2. (2) Rental data should be collected unless all commercial properties in the neighborhood are owner occupied.
   3. (3) If neither sales nor rental data are available, the narrative description of each boundary line shall include a statement outlining the physical, economic, governmental, or social factors that led the appraiser to conclude the boundary location.

Codification Notes: This section as promulgated prior to codification into the Code of Arkansas Rules provided as follows: "Adopted 10/01/99"