D. On review or appeal of a valuation determined under this section, the owner of a shopping center may elect to have the valuation of the shopping center determined by the income method commonly known as the straight line building residual method if the owner submits all reasonably necessary income and expense information. The reviewing body shall use the information submitted by the owner and may also use any other information customarily analyzed under this method. The capitalization rate used for purposes of this subsection shall be comprised of:

1. 1. For the 1983 tax year a discount rate of 10.5 per cent, adjusted each year thereafter according to the percentage change in the weighted average cost of monies derived from interest paid on savings accounts, federal home loan bank advances and other borrowed money as reported by the federal home loan bank of San Francisco for this state for the most recent twelve month period ending June 30. The discount rate shall not be less than ten per cent.
2. 2. A recapture rate based on a thirty-five year economic life.
3. 3. The effective tax rate for the property for the most recent tax year.

E. The department shall:

1. 1. Determine the average differences in valuations for similar size and age shopping centers that result from the two valuation methods prescribed by this section and section 42-13204 and from which the department shall develop a schedule of obsolescence factors that can be added to the depreciation schedule used in the replacement cost less depreciation method. County assessors shall incorporate the obsolescence factors into the depreciation schedule.
2. 2. Develop obsolescence factors prescribed by paragraph 1 of this subsection based on statistical research in order to, on average, equalize the valuations that result from the two valuation methods prescribed in this section and section 42-13204. The department may use data from state sources, nationally recognized publications and journals and other related research.