(1) For each reappraisal period the department shall develop and adopt the Montana Appraisal Manual to be used during the reappraisal cycle. The Montana Appraisal Manual will be used for valuing residential, commercial, and industrial land and improvements, new construction, and use changes.

(2) The Montana Appraisal Manual provides details on the valuation processes the department uses.

(3) The Montana Appraisal Manual incorporates the department's duties as provided in 15-1-701 through 15-7-103, MCA, and the department shall consider the manual when performing these duties.

(4) The Montana Appraisal Manual shall guide department appraisers in the application of approved appraisal practices, including but not limited to the three approaches to property valuation: market, cost, and income.