S.D. Admin. R. 67:12:04:10.02
The department shall accept the evidence of the fair market value submitted by the applicant or recipient unless the fair market value is obviously too high or too low. If, in the department's opinion, the fair market value submitted by the applicant or recipient 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 applicant or recipient, the department's list of encumbrances shall be used when determining equity value.
S.D. Admin. R. 67:12:04:10.02
General Authority: SDCL 28-7-2.
Law Implemented: SDCL 28-7-4.
Determining value of other real property -- Responsibility of applicant or recipient, § 67:12:04:10.01.