1. A. Land Rigs

   Table 1103.A Land Rigs
   Depth "0" to 7,000 Feet
   Depth (Ft.)	Fair Market Value	Assessment
   	$	$
   3,000	221,100	33,200
   4,000	271,300	40,700
   5,000	279,900	42,000
   6,000	305,400	45,800
   7,000	385,200	57,800
   th 8,000 to 10,000 Feet
   Depth (Ft.)	Fair Market Value	Assessment
   	$	$
   8,000	537,900	80,700
   9,000	766,800	115,000
   10,000	1,062,900	159,400
   Depth 11,000 to 15,000 Feet
   Depth (Ft.)	Fair Market Value	Assessment
   	$	$
   11,000	1,408,000	211,200
   12,000	1,778,000	266,700
   13,000	2,145,600	321,800
   14,000	2,484,000	372,600
   15,000	2,769,200	415,400
   Depth 16,000 to 20,000 Feet
   Depth (Ft.)	Fair Market Value	Assessment
   	$	$
   16,000	2,984,100	447,600
   17,000	3,120,700	468,100
   18,000	3,183,700	477,600
   19,000	3,193,500	479,000
   20,000	3,189,400	478,400
   Depth 21,000 + Feet
   Depth (Ft.)	Fair Market Value	Assessment
   	$	$
   21,000	3,232,600	484,900
   25,000 +	3,306,800	496,000

2. 1. Barges (Hull)—Assess Barges (Hull) at 25 percent of the assessment for the rig value bracket, and add this to the proper rig assessment to arrive at total for barge and its drilling rig.

   1. 2. Living quarters are to be assessed on an individual basis.

3. B. Jack-Ups

   Table 1103.B Jack-Ups
   Type	Water Depth Rating	Fair Market Value	Assessment
   IC	0-199 FT.	$ 71,500,000	$ 10,725,000
   	200-299 FT.	142,600,000	21,390,000
   	300 FT. and Deeper	285,100,000	42,765,000
   IS	0-199 FT.	21,400,000	3,210,000
   	200-299 FT.	35,600,000	5,340,000
   	300 FT. and Deeper	42,900,000	6,435,000
   MC	0-199 FT	7,100,000	1,065,000
   	200-299 FT.	14,300,000	2,145,000
   	300 FT. and Deeper	57,100,000	8,565,000
   MS	0-249 FT.	14,900,000	2,235,000
   	250 FT. and Deeper	29,500,000	4,425,000

   IC - Independent Leg Cantilever

   IS - Independent Leg Slot

   MC - Mat Cantilever

   MS - Mat Slot

4. C. Semisubmersible Rigs

   1. 1. The fair market values and assessed values indicated by the tables above for drilling rigs are based on the current market (sales) appraisal approach and not the cost approach.
   2. 2. These tables assume complete rigs in good condition. If it is documented to the assessor that any drilling rig is incomplete or is in less than good condition, these amounts should be adjusted.

   3. 3. Significant variations from the "Good" condition are possible and must be considered when the drilling rig is valued. These variations in condition are acknowledged by HADCO in the newsletter pricing. Conditions from "poor" to "excellent" are priced for all depth ratings. If adjustments are needed, the most recent HADCO newsletter shall be used to determine the proper adjusted condition.

      1. a. Significant factors that would downgrade the condition can be identified by:

         1. i. a detailed estimate and description of substantial capital repairs needed on the rig and/or rig data sheet verifying the rig is of outdated technology (mechanical rig or the like).

      2. b. Significant factors that would UPGRADE the condition can be identified by:

         1. i. a rig manufactured date on the LAT form of less than three years.

   Table 1103.C Semisubmersible Rigs
   Water Depth Rating	Fair Market Value	Assessment
   	$	$
   0- 800 FT.	65,200,000	9,780,000
   801-1,800 FT.	116,800,000	17,520,000
   1,801-2,500 FT.	214,100,000	32,115,000
   2,501FT. and Deeper	671,800,000	100,770,000

5. D. Well Service Rigs Land Only

   1. 1. The RCNLD values given in the table above for service rigs have been determined with 60 percent default depreciation rate. The HADCO data for RCN of service rigs does not contain a stated condition (excellent, good, fair, etc.) similar to drilling rigs.

   Table 1103.D Well Service Rigs Land Only
   Class	Mast	Engine	Fair Market Value (RCNLD)	Assessment
   I	71’ X 125M# 71’ X 150M# 72’ X 125M# 72’ X 150M# 75’ X 150M#	C-7 50 SERIES 6V71	95,000	14,300
   II	96’ X 150M# 96’ X 180M# 96’ X 185M# 96’ X 200M# 96’ X 205M# 96’ X 210M# 96’ X 212M# 96’ X 215M#	C-11 50 SERIES 8V71	135,000	20,300
   III	96’ X 240M# 96’ X 250M# 96’ X 260M# 102’ X 215M#	C-11 50 SERIES 8V92	170,000	25,500
   IV	102’ X 224M# 102’ X 250M# 103’ X 225M# 103’ X 250M# 104’ X 250M# 105’ X 225M# 105’ X 250M#	C-15/C-13 60 SERIES 12V71	200,000	30,000
   V	105’ X 280M# 106’ X 250M# 108’ X 250M# 108’ X 260M# 108’ X 268M# 108’ X 270M# 108’ X 300M#	C-15/C-13 60 SERIES 12V71 12V92	230,000	34,500
   VI	110’ X 250M# 110’ X 275M# 112’ X 300M# 112’ X 350M#	C-15 60 SERIES 12V71 (2) 8V92	265,000	39,800
   VII	117’ X 350M#	(2) C-18 (2) 60 SERIES (2) 8V92 (2) 12V71	310,000	46,500

6. E. Consideration of Obsolescence

   1. 1. Functional and/or economic obsolescence is a loss in value of personal property above and beyond physical deterioration. Functional and/or economic obsolescence shall be considered in the analysis of fair market value as substantiated by the taxpayer in writing. Consistent with Louisiana R.S. 47:1957, the assessor may request additional documentation.

NOTE: The fair market values and assessed values indicated by these tables are based on the current market (sales) appraisal approach and not the cost approach.

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:1837 and R.S. 47:2323.

Historical Note

HISTORICAL NOTE: Promulgated by the Department of Revenue and Taxation, Tax Commission, LR 8:102 (February 1982), amended LR 10:939 (November 1984), LR 12:36 (January 1986), LR 13:188 (March 1987), LR 16:1063 (December 1990), LR 17:1213 (December 1991), LR 22:117 (February 1996), LR 23:205 (February 1997), amended by the Department of Revenue, Tax Commission, LR 24:487 (March 1998), LR 25:315 (February 1999), LR 26:508 (March 2000), LR 27:426 (March 2001), LR 28:519 (March 2002), LR 30:488 (March 2004), LR 31:718 (March 2005), LR 32:431 (March 2006), LR 33:493 (March 2007), LR 34:683 (April 2008), LR 35:497 (March 2009), LR 36:778 (April 2010), amended by the Office of the Governor, Division of Administration, Tax Commission, LR 37:1399 (May 2011), LR 38:808 (March 2012), LR 39:495 (March 2013), LR 40:536 (March 2014), LR 41:678 (April 2015), LR 42:748 (May 2016), LR 43:654 (April 2017), LR 44:581 (March 2018), LR 45:535 (April 2019), LR 46:562 (April 2020), LR 47:467 (April 2021), LR 48:1525 (June 2022), LR 49:1058 (June 2023), LR 50:369 (March 2024), LR 51:391 (March 2025), LR 52:969 (June 2026).