S.D. Admin. R. 67:10:04:10

Current through Register Vol. 51, page 57, November 12, 2024

Section 67:10:04:10 - Department reserves right to obtain independent valuation

The department shall accept the evidence of the fair market value submitted by the individual unless the fair market value is obviously too high or too low. If, in the department's opinion, the fair market value submitted is obviously too high or too low, the department may obtain an independent fair market valuation of the property. The department's fair market valuation shall be used when determining equity value.

If discrepancies exist between the list of encumbrances obtained by the department and the list submitted by the individual, the department's list of encumbrances shall be used when determining equity value.

24 SDR 24, effective 8/31/1997.

General Authority: SDCL 28-7A-3(1)(3).

Law Implemented: SDCL 28-7A-3(1)(3).