Valuation of Watercraft

5.1. The Tax Commissioner shall direct the purchase of nationally recognized comprehensive price listing service for watercraft such as power boats, bass boats, canoes, row boats, pontoon boats, cabin cruisers, etc., as the basis of appraised values. The Tax Commissioner shall supply this listing to each county assessor for use in determining the appraised value of watercraft.

5.2. Older watercraft models which are excluded from recognized appraisal guides because of their age, shall have their last appraised value depreciated by ten percent (10%) per year until the value reaches two hundred dollars ($200). Thereafter, the appraised value will remain constant for so long as the vehicle is owned by the taxpayer.