Indiana has made a long (and I mean long) list of changes to the to property tax valuation and assessment procedures and requirements.

LSA Document #09-576(F) calls for changes to personal property reporting and valuation, obsolescence, township and county assessor duties and more.

The California State Board of Equalization recently released a draft of the proposed Guidelines for Substantiating Additional Obsolescence for Personal Property and Fixtures as part of a project to assist county assessors’ staff in identifying and quantifying obsolescence for personal property tax valuation.

Although the proposed guidelines do not offer anything that can be considered groundbreaking, they do serve as an overview of the process for identifying and calculating extraordinary obsolescence.