50 IAC 30-3-2 Property attributes

Sec. 2. (a) Property attributes, including an attribute of the real property improvement described in subsection (b), for purposes of disaggregation, may include the following: (1) Age (e.g., construction date of property), including effective age. (2) Use. (3) Deed or use restrictions (e.g., constraints on ownership type or use). (4) Design and amenities (e.g., unheated storage space, mezzanine, drive-thru, specially designed features). (5) Land-to-building ratio (e.g., large or small building footprint). (6) Location (e.g., prime or desirable location, traffic count of access roads and streets). (7) Occupancy (e.g., residential, apartment, office, retail), whether single-tenant or multitenant. (8) Physical characteristics. (9) Quality of construction (e.g., class of building). (10) Size (e.g., square footage of building). (11) Any other relevant factors. (b) The presence or absence of any attribute described in this section in a market segmentation analysis or sales comparison analysis does not invalidate the market segmentation analysis or sales comparison analysis. The use of any attribute other than the attributes described in this section does not invalidate the market segmentation analysis or sales comparison analysis. (c) In analyzing comparable sales as they relate to the subject property as part of a sales comparison analysis, any adjustment to the purchase price recognized by generally accepted appraisal principles may be considered to the extent the adjustment is consistent with IC 6-1.1-31-6(d). (d) In analyzing comparable sales, as they relate to the subject property as part of a sales comparison analysis, any adjustments to the purchase price recognized by generally accepted appraisal principles may be considered to the extent the adjustment is consistent with IC 6-1.1-31-6(d).