IDAPA 35.01.03.217 — RULES PERTAINING TO MARKET VALUE DUTY OF COUNTY ASSESSORS

Section 63-208 Idaho Code
01.
Market Value.
(7-1-24)
a.
The assessor will value the entire fee simple interest of property.
(7-1-24)
b.
Personal property is valued at retail level.
(7-1-24)
02.
Appraisal Approaches. Three (3) approaches to value are considered for all property and are the
sales comparison approach, the cost approach and the income approach.
(7-1-24)
03.
Appraisal Procedures. Assessors will use guidelines and publications of nationally recognized
appraisal and valuation associations, institutes, and societies including those referenced in Rule 003 of these rules, to
determine market value for assessment purposes.
(7-1-24)
04.
Determining Value. The income approach to value, used in appraisal procedures, methods, and
techniques, to determine market value for assessment purposes of income-producing properties, must use market
rent, not contract rent.
(7-1-24)