1. (1) The assessment of city and town lots and the assessment of rural and urban improvements shall be at market value as determined by an appraisal using one or more of the three accepted approaches to determine value:

   1. (a) the cost approach, where the department's Appraisal Guide and national cost service manuals, as indicated in ARM 42.18.122, are used;
   2. (b) the sales comparison approach; and
   3. (c) the income approach.
2. (2) Said appraisals shall be made in the same manner as provided in 15-7-101 through 15-7-103, MCA, and 15-8-112, MCA.

Authorizing statute(s): 15-1-201, MCA

Implementing statute(s): 15-7-103, MCA

History: Eff. 12/31/72; AMD, 1979 MAR p. 985, Eff. 8/31/79; AMD, 1979 MAR p. 1304, Eff. 10/26/79; AMD, 2002 MAR p. 3723, Eff. 12/27/02; AMD, 2006 MAR p. 3103, Eff. 12/22/06; AMD, 2017 MAR p. 2090, Eff. 11/10/17.