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(1) Agricultural and forest lands are valued in accordance with ARM Title 42, chapter 20. Use changes are updated annually on both agricultural and forest lands. For agricultural lands the valuation methodology and agricultural lands valuation schedules are developed in accordance with 15-7-201 , MCA. For forest lands the valuation methodology and forest lands valuation schedules are developed in accordance with 15-44-103 , MCA. The agricultural and forest lands values will reflect productivity values in accordance with 15-7-201 and 15-44-103 , MCA.

(2) The reappraisal of agricultural/forest lands consists of:

(a) field reviews of agricultural/forest lands improvements as appropriate;

(b) agricultural/forest lands property data collection and analysis;

(c) the data entry of agricultural/forest lands information;

(d) the generation and review of property record cards; and

(e) final determinations of value.

(3) The plan provides for multiple field reviews of each property to be kept to an absolute minimum.

(4) The reappraisal plan provides for field reviews. A field review consists of an internal or external observation to:

(a) determine accuracy of existing information on the property record card;

(b) observe condition;

(c) review grade and depreciation assignment;

(d) review agricultural and forest lands classification; and

(e) collect additional data required to implement PVAS.

(5) No return visits will be made to the property unless the taxpayer specifically requests an on-site visit be made by the department to review property characteristics or perform an internal inspection of the property, or if the department determines that a return visit is necessary to review or correct information about the property.

(6) Agricultural/forest lands property data entry consists of correcting, updating, and adding agricultural/forest lands property data to PVAS. The correction, updating, and addition process also consists of reviewing edit reports which result from that process, the entry of agricultural/forest lands information to PVAS, the addition of improvement data (outbuildings and residences) to PVAS, and sketch vectoring.

(7) Property record sheets (PRS) and comparable sales sheets are generated and reviewed by appraisal staff. These sheets include:

(a) physical characteristic and component information for agricultural/forest lands improvements;

(b) productivity information for agricultural/forest lands and land use classifications; and

(c) valuation information.

(8) The review consists of:

(a) analyzing;

(b) collecting component information on improvements; and

(c) reviewing productivity information on agricultural/forest lands and land use type.

(9) This review allows the appraiser to compare property information to an estimate of value. Discrepancies in data or the collection of additional information required by the review results in updating data on PVAS. The addition or refinement of existing data results in a more accurate valuation estimate.

(10) Final determinations of value are conducted once all required field and program needs of PVAS are met. The appraised value for agricultural/forest lands property improvements includes an estimate of market value using the cost approach and, when possible, the sales comparison and income approaches.

(11) The appraisal value supported by the most defensible valuation information serves as the value for ad valorem tax purposes.

(12) This rule applies to tax years January 1, 2009, through December 31, 2014.

History: 15-1-201, 15-7-111, MCA; IMP, 15-7-111, MCA; NEW, 1996 MAR p. 3149, Eff. 12/6/96; TEMP, AMD, 1997 MAR p. 1593, Eff. 9/9/97; AMD, 2000 MAR p. 3562, Eff. 12/22/00; AMD, 2002 MAR p. 1099, Eff. 4/12/02; AMD, 2004 MAR p. 3156, Eff. 12/17/04; AMD, 2006 MAR p. 3101, Eff. 12/22/06.

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