ARSD § 64:04:04:06 — Replacement cost data -- Obsolescence

64 : 04 : 04 : 06 . Replacement
cost dat a -- Obsolescence. The replacement
cost must be estimated by using cost of local materials and labor and other
construction items. From this cost must be deducted an estimated amount for
loss in value due to wear and tear from use and the elements and any
obsolescence that may occur due to changes in use, age and any other factor
that may be present in the structure. For special conditions, additions and
deductions must be made to estimate a fair building value.