Determining Class Life for Tangible Personal Property

PURPOSE: This rule sets out the publication assessors are to use when estimating value for depreciable tangible personal property for mass appraisal purposes. (1) For purposes of assessors estimating the value of depreciable tangible personal property for mass appraisal purposes in accordance with section 137.122, RSMo, class life and recovery periods shall be determined by reference to Internal Revenue Service Publication 946—How to Depreciate Property or successor publications thereto. Specifically, class lives and recovery periods shall be determined by reference to Appendix B— Table of Class Lives and Recovery Periods. Class life shall be determined under Table B1 and Table B-2 under the column—Class Life (in years). Recovery period shall be determined by the number corresponding to the Class Life number for given items of machinery, tools, appliances and equipment under the column—GDS (MACRS). AUTHORITY: section 138.430, RSMo 2000.* Original rule filed April 13, 2006, effective Oct. 30, 2006. *Original authority: 138.430, RSMo 1939, amended 1945, 1947, 1978, 1983, 1989, 1999.