The department shall accept the evidence of the fair market value submitted by the applicant or recipient unless, in the opinion of the department, the fair market value submitted by the applicant or recipient is unreasonably high or low. The department may then obtain an independent fair market valuation of the property that must be used when determining equity value.

If discrepancies exist between the list of encumbrances obtained by the department and the list submitted by the applicant or recipient, the department's list of encumbrances must be used when determining equity value.

Source: 10 SDR 144, effective July 1, 1984 ; 52 SDR 55, effective December 2, 2025 .

General Authority: SDCL 28- 6-1 .

Law Implemented: SDCL 28- 6-1 .

Prior versions effective: 1984-07-01.