2009
Valuation Schedules
Class
1 – Short Life Property
Examples
of Class 1 Property Include:
|
Barricades/Warning Signs |
Library
Materials/Books |
| Patterns,
Jigs & Dies |
Motel
& Hotel Linen |
| Pots
& Pans, Utensils |
Pallets,
Wood |
| Canned
Computer Software |
Silverware |
| Motion
Picture Prints |
Uniforms |
|
Rental DVD's & Video Tapes |
Discs
(see below) |
The
following schedule is recommended for valuing Class 1 property in
the 2009 assessment year:
| Year
of Acquisition |
Percent
Good of Acquisition Cost |
| 2008 |
72%
|
| 2007 |
43%
|
| 2006
and prior |
11%
|
Class
1, Short Life Property, is Defined as:
Property
which is fungible in that it is difficult to determine which items
are retired from service by age group. Such property is highly susceptible
to breakage, loss, rapid wear and tear or subject to extreme obsolescence.
Rental
DVD's and other media:
Rental
DVD's, CD's and video tapes are to be valued at $15.00 per tape
for the first year and $3.00 per tape thereafter.
Computer
Software Costs:
A
licensee of canned computer software shall use one of the following
substitutes for acquisition cost of the canned computer software
if no acquisition cost is stated:
- retail price
of the canned computer software;
- if a retail
price is unavailable, and the license is a non-renewable single
year agreement, use the total sum of expected payments during
that 12-month period; or
- if the licensing
agreement is a renewable agreement or is a multiple year agreement,
use the present value of all expected licensing fees paid pursuant
to the agreement.
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