ARM 42.20.503. DETERMINATION OF CURRENT YEAR PHASE-IN VALUE FOR CLASS THREE, CLASS FOUR, AND CLASS TEN PROPERTY

(1) For tax years 2015 through 2020, the department is required to determine the current year phase-in value for each property in class three, class four, and class ten annually. The current year phase-in value is determined by subtracting the 2014 reappraisal value from the 2015 reappraisal value multiplied by the applicable phase-in percentage, the product of which is added to the 2014 reappraisal value. The calculations of the phase-in values are represented by the following formula: 2015 Phase-in value = [(2015 full reappraisal value - 2014 full reappraisal value) x 16.66%] + 2014 full reappraisal value 2016 Phase-in value = [(2015 full reappraisal value - 2014 full reappraisal value) x 33.32%] + 2014 full reappraisal value 2017 Phase-in value = [(2015 full reappraisal value - 2014 full reappraisal value) x 49.98%] + 2014 full reappraisal value 2018 Phase-in value = [(2015 full reappraisal value - 2014 full reappraisal value) x 66.64%] + 2014 full reappraisal value 2019 Phase-in value = [(2015 full reappraisal value - 2014 full reappraisal value) x 83.30%] + 2014 full reappraisal value 2020 Phase-in value = 2015 full reappraisal value