42-13353. Depreciated values of personal
property of manufacturers, assemblers and fabricators


A. Except as provided in subsection C and notwithstanding any other statute, the
department shall adjust depreciation schedules for use by the assessors to determine the
valuation of personal property valued under this article that was or is initially
assessed during tax year 1994 through tax year 2007 as follows:


1. For the first tax year of assessment, the assessor shall use thirty-five per
cent of the scheduled depreciated value.


2. For the second tax year of assessment, the assessor shall use fifty-one per cent
of the scheduled depreciated value.


3. For the third tax year of assessment, the assessor shall use sixty-seven per
cent of the scheduled depreciated value.


4. For the fourth tax year of assessment, the assessor shall use eighty-three per
cent of the scheduled depreciated value.


5. For the fifth and subsequent tax years of assessment, the assessor shall use the
scheduled depreciated value as prescribed by the department's guidelines.


B. Except as provided in subsection C and notwithstanding any other law, the
department shall adjust depreciation schedules for use by the assessors to determine the
valuation of personal property valued under this article that was or is initially
assessed during or after tax year 2008 as follows:


1. For the first tax year of assessment, the assessor shall use thirty per cent of
the scheduled depreciated value.


2. For the second tax year of assessment, the assessor shall use forty-six per cent
of the scheduled depreciated value.


3. For the third tax year of assessment, the assessor shall use sixty-two per cent
of the scheduled depreciated value.


4. For the fourth tax year of assessment, the assessor shall use seventy-eight per
cent of the scheduled depreciated value.


5. For the fifth tax year of assessment, the assessor shall use ninety-four per
cent of the scheduled depreciated value.


6. For the sixth and subsequent tax years of assessment, the assessor shall use the
scheduled depreciated value as prescribed in the department's guidelines.


C. The additional depreciation prescribed in subsection A shall not reduce the
valuation below the minimum value prescribed by the department for property in use.