64 : 04 : 04 : 03 . Commercial real estate appraisal guide. As incorporated in § 64:04:04:01, the standard real estate appraisal guides for use by all directors of equalization in the state for the appraisal of buildings and improvements other than noncommercial residential structures by the replacement cost method to determine full and true value for tax purposes pursuant to SDCL 10-6 are:

1. (1) The Marshall and Swift Residential Cost Handbook and the Marshall Valuation Service; and
2. (2) The Vanguard Real Property Appraisal Manual.

Source: 11 SDR 1, effective July 19, 1984; 12 SDR 111, effective January 12, 1986; 13 SDR 129, 13 SDR 134, effective July 1, 1987; 14 SDR 95, effective January 10, 1988; 15 SDR 58, effective October 19, 1988; 16 SDR 76, effective November 1, 1989; 17 SDR 4, effective July 18, 1990; 17 SDR 199, effective July 1, 1991; 19 SDR 42, effective September 29, 1992; 20 SDR 134, effective February 22, 1994; 23 SDR 117, effective January 27, 1997; 38 SDR 122, effective January 17, 2012; transferred from § 64:04:01:18 , 47 SDR 71, effective December 10, 2020 .

General Authority: SDCL 10-1-16.1.

Law Implemented: SDCL 10-1-16.1 .