ARM 42.21.113. LEASED AND RENTAL EQUIPMENT

(1) Leased or rental equipment that is leased or rented on an hourly, daily, or weekly basis, but is not exempt under 15-6-201 (1) (cc) , MCA, will be valued in the following manner: (a) For equipment that has an acquired cost of $0 to $500, the department shall use a four-year trended depreciation schedule. The trended schedule will be the same as ARM 42.21.155 , category 1. YEAR NEW/ACQUIRED TRENDED % GOOD 2006 70% 2005 43% 2004 19% 2003 and older 8% (b) For equipment that has an acquired cost of $501 to $1,500, the department shall use a five-year trended depreciation schedule. The trended schedule will be the same as ARM 42.21.155 , category 2. YEAR NEW/ACQUIRED TRENDED % GOOD 2006 85% 2005 69% 2004 53% 2003 35% 2002 and older 20% (c) For equipment that has an acquired cost of $1,501 to $5,000, the department shall use a ten-year trended depreciation schedule. The trended schedule will be the same as ARM 42.21.155 , category 8. YEAR NEW/ACQUIRED TRENDED % GOOD 2006 92% 2005 87% 2004 81% 2003 72% 2002 63% 2001 54% 2000 43% 1999 34% 1998 27% 1997 and older 23% (d) For equipment that has an acquired cost of $5,001 to $15,000, the department shall use the trended depreciation schedule for heavy equipment. The schedule will be the same as ARM 42.21.131 . YEAR NEW/ACQUIRED TRENDED % GOOD 2007 80% 2006 65% 2005 58% 2004 54% 2003 49% 2002 44% 2001 40% 2000 36% 1999 32% 1998 31% 1997 29% 1996 28% 1995 27% 1994 26% 1993 26% 1992 25% 1991 24% 1990 24% 1989 23% 1988 and older 23% (e) For rental video tapes the following schedule will be used: YEAR NEW/ACQUIRED TRENDED % GOOD 2006 25% 2005 15% 2004 and older 10% (2) For all other leased property that is not rented on an hourly, daily, or weekly basis, the valuation procedures shall be the same as other like personal property. (3) When a special mobile permit (SM plate) , as defined in 61-1-104 , MCA, is purchased for lease or rental equipment, the equipment will be classified and valued the same as other SM equipment in class eight. (4) All leased and rental property not exempt under 15-6-201 (1) (cc) , MCA, will be assessed and taxed as class eight property. (5) This rule is effective for tax years beginning after December 31, 2006.