How are manufactured homes values determined?
A. The valuation method used for determining the value of manufactured homes for property taxation purposes shall be a cost method, applying generally accepted appraisal techniques and shall generally provide for: the determination of initial cost of a manufactured home based upon classifications of manufactured homes and sales prices for the various classifications. deductions from initial cost for allowable straight line depreciation, which is developed by the State Property Tax Division; and deductions from initial cost of other justifiable factors, including, but not limited to, functional and economic obsolescence.
