2008
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, Compact |
Discs
(see below) |
The
following schedule is recommended for valuing Class 1 property in
the 2008 assessment year:
| Year
of Acquisition |
Percent
Good of Acquisition Cost |
| 2007 |
72%
|
| 2006 |
42%
|
| 2005
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 video
tapes,CD's and DVD's are to be valued at $15.00 per tape for the
first year and $3.00 per tape thereafter.
Computer Software:
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 license agreement, 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,
the present value of all expected licensing fees paid pursuant
to the agreement.
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