50 Ind. Admin. Code 1-3-6
Current through December 12, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-31
Sec. 6.
ASSESSMENT OF HORIZONTAL PRESSURE TANKS. In order to provide for the uniform assessment of horizontal steel pressure tanks, commonly used for the storage of liquid and gas fuels, the Board has determined the following pricing schedule for such real property, completely installed on saddle pads with normal fittings, but not incuding [sic.] the value of pipe, valves, pumps or foundations:
| CAPACITY (Gallons) | SIZE (Feet) | COST |
| 1,000 | 31/2 × 16 | $ 1,200 |
| 2,000 | 5 × 15 | 2,200 |
| 3,000 | 5 × 22 | 3,200 |
| 4,000 | 5 × 29 | 4,100 |
| 5,000 | 5 × 36 | 4,900 |
| 7,500 | 6 × 37 | 6,900 |
| 10,000 | 6 × 50 | 8,900 |
| 12,500 | 6 × 61 | 10,400 |
| 15,000 | 71/2 × 50 | 12,500 |
| 20,000 | 71/2 × 65 | 16,200 |
| Over 20,000 | Varied | .80 per gallon |
The depreciation on subject property should be determined from the thirty (30) year economic life schedule on page DP-02 [50 IAC 2 was repealed filed Dec 13, 1989, 5:00 p.m.: 13 IR 864; errata filed Feb 19, 1990, 3:35 p.m.: 13 IR 1187.] of the Real Property Appraisal Manual.
50 IAC 1-3-6