Section 166.408 - Is the grazing rental rate established by the BIA adjusted periodically?Yes. To ensure that Indian landowners are receiving the fair annual return, we may adjust the grazing rental rate established by the BIA, based upon an appropriate valuation method, taking into account the value of improvements made under the permit, unless the permit provides otherwise, following the Uniform Standards of Professional Appraisal Practice.
(a) We will: (1) Review the grazing rental rate prior to each anniversary date or when specified by the permit.(2) Provide you with written notice of any adjustment of the grazing rental rate 60 days prior to each anniversary date.(3) Allow the adjusted grazing rental rate to be less than the fair annual rental if we determine that such a rate is in the best interest of the Indian landowner.(b) If adjusted, the grazing rental rate will become effective on the next anniversary date of the permit.(c) These adjustments will be retroactive, if they are not made at the time specified in the permit.(d) For permits granted by tribes, we will consult with the granting tribe to determine whether an adjustment of the grazing rental payment should be made. The permit must be modified to document the granting tribe's waiver of the adjustment. A tribe may grant a permit without providing for a rental adjustment, if the tribe establishes such a policy under § 166.100(a)(4) of this part and negotiates such a permit.