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42.20.503 DETERMINATION OF CURRENT YEAR PHASE-IN VALUE FOR CLASS TEN PROPERTY (1) For tax years 2015 through 2020, the department is required to determine the current year phase-in value for each property in class ten annually. The current year phase-in value is determined by subtracting the 2014 reappraisal value from the 2015 reappraisal value multiplied by the applicable phase-in percentage, the product of which is added to the 2014 reappraisal value. The calculations of the phase-in values are represented by the following formula:
2015 Phase-in value = [(2015 full reappraisal value - 2014 full reappraisal value) x 16.66%] + 2014 full reappraisal value
2016 Phase-in value = [(2015 full reappraisal value - 2014 full reappraisal value) x 33.32%] + 2014 full reappraisal value
2017 Phase-in value = [(2015 full reappraisal value - 2014 full reappraisal value) x 49.98%] + 2014 full reappraisal value
2018 Phase-in value = [(2015 full reappraisal value - 2014 full reappraisal value) x 66.64%] + 2014 full reappraisal value
2019 Phase-in value = [(2015 full reappraisal value - 2014 full reappraisal value) x 83.30%] + 2014 full reappraisal value
2020 Phase-in value = 2015 full reappraisal value History: 15-1-201, 15-7-111, MCA; IMP, 15-7-111, MCA; TEMP, NEW, 1997 MAR p. 1593, Eff. 9/9/97; AMD, 1999 MAR p. 2905, Eff. 12/17/99; AMD, 2002 MAR p. 3424, Eff. 12/13/02; AMD, 2007 MAR p. 119, Eff. 12/22/06; AMD, 2014 MAR p. 2994, Eff. 12/12/14; AMD, 2015 MAR p. 2350, Eff. 1/1/16. |
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