chapter vi commercial appraisal - mississippi · chapter index 1. commercial property record card...

CHAPTER VI

COMMERCIAL APPRAISAL

Revised November 2015

Chapter Index

1. COMMERCIAL PROPERTY RECORD CARD . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-1

2. EXTERIOR WALL UNITS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-5

3. ROOF TYPE AND MATERIAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-6

4. FLOORS AND INTERIOR FINISH. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-7

5. ADJUSTMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-8

6. SPECIAL USE UNITS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-9

7. FRANCHISE RESTAURANTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-9

8. PARTY WALL ADJUSTMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-11

9. HEIGHT ADJUSTMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-12

10. PARTITIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .VI-14

11. FRONT AND INTERIOR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-16

12. FRAMING. . . . ……………….. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-17

13. ELECTRICITY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-18

14. PLUMBING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-19

15. EXTRA FEATURES. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-20

16. COMMERCIAL CLASSIFICATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-22

17. COMMERCIAL BASE RATE TABLES. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-23

18. COMMERCIAL ADJUSTED AREA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-25

19. DEPRECIATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-27

20. CALCULATION OF COMMERCIAL PRC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-29

21. HEATING AND COOLING TABLE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-35

22. PLUMBING TABLE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-36

23. COMMERCIAL IMPROVEMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .VI-36

24. VALUATION OF AFFORDABLE HOUSING .. . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-52

25. REPLACEMENT COST SECTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-55

26. DEFINITION OF TERMS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-83

27. ILLUSTRATIONS OF COMMERCIAL CLASSIFICATION. . . . . . . . . . . . . . . . . . . VI-89

COMMERCIAL INDUSTRIAL APPRAISAL

The estimating of costs for commercial and industrial structures is quite complex. Further, many

building cost systems vary considerably within themselves when going from residential to

commercial building cost calculation methods. However, the unit system enables commercial and

industrial structures to be calculated in much the same manner as residential. The same units, the

same classes, and similar decimal areas apply. The important difference is in the application of

what are called "adjustments", which take into consideration such items as framing in heavier or

taller buildings, excessive heights, store front and interiors, apartment units, partitions, and special

use buildings.

The commercial property record card (PRC) is very similar to the residential card. The front side

is used to list the tax roll information, sales and ownership transfer data, legal description, site

data, and land calculation. The back of the card is used to list, sketch, and calculate construction

data on the building or buildings being appraised.

Back of Property Record Card

The first portion on the back of the card is used to identify information about the building. This

section covers the type of structure(s) on the parcel, the year the structure was built, and whether

or not there has been any remodeling. Fill in the type of structure, the year it was built, and if

remodeling has occurred, indicate the year it was remodeled. The year built and the remodeling

completion date will be used to figure the effective age.

Building No.

1

2

3

4

5

Type of Structure

Year Built

Year Remodeled

Effective Age

The next section of the card identifies the person who gave the information about the building

(owner, manager, etc.) and the appraiser(s) who listed, classed, and reviewed the improvements.

Information By: Owner __ Mgr. __

Field Work By:

Date: / /

Other:

Class By:

Date: / /

Name:

Review By:

Date: / /

VI-3

FOUNDATION

Apartment information should be recorded in the appropriate spaces. The rent column will be an

aid in determining value when using the market and/or income approaches to value.

Commercial and industrial structures often employ a wider range of materials and design than do

residential structures. Construction units to cover additional materials and combinations of

materials have been incorporated in the system.

Foundation and construction features are listed by checking the appropriate column under each

sub-heading.

Foundation is defined as the sub-structure of a building. Record type of foundation and material

utilized.

FOUNDATION

1 Slab

2 Piers

3 Conc. Wall

4 Conc. Block

5 Brick

6 Concrete

7 Stone

8 Wood

VI-4

Dwelling No.

1

2

3

4

5

6

7

Rent

No. of Apts.

No. of Rooms

No. of Bedrooms

Stories

Exterior wall units are used for material involved in the construction of the external wall around

the perimeter of the building. If more than one type of material is used, indicate the appropriate

portion of each. Do not use less than one-quarter for any listing. If the exterior wall material is

other than one of the types listed, write in the name of the material in the space provided.

EXTERIOR WALLS

1 Wall Board 15

2 Composition 15

3 Wood Fr. Stucco 28

4 Wd. Fr. No Sheathing 30

5 Wd. Fr. Asbestos 30

6 C. B. Plain 31

7 C. B. Face 36

8 C. B. Stucco 32

9 Tile Stucco 33

10 Wd. & Sheathing 33

11 Alum/Vinyl Siding 35

12 Ext. Plywood 33

13 Hardboard Lap 33

14 Redwood Siding 35

15 Brick Veneer 38

16 Cedar B & B 43

17 Wood Shakes 43

18 Stone Veneer 44

19 Solid Stone 70

20 Brick & Masonry 38

21 8” Brick 38

22 12” Brick 41

23 Reinforced Concrete 43

24 Metal on Steel 60

25 Metal & Glass 60

26 Corr. Metal 16

27 Synthetic Stucco 36

28 Log Veneer 33

29 Log 41

30 Cement Siding 36

VI-5

Roof Type refers to the shape of the roof line and its framing. Common types are listed on the

property record card.

ROOF TYPE

1 Flat Shed 7

2 Hip 9

3 Gable 8

4 Gambrel 9

5 Mansard 9

6 B.J. & Wood Deck 8

7 Sawtooth 8

8 Monitor 9

9 Pre-Stress Concrete 10

10 Wd. Truss & Wd. Dk. 13

11 B.J. & Rigid Ins. 14

12 Steel Truss (No Deck) 15

13 Steel Truss (Wd Deck) 17

Roof Material refers to the finish or wearing surface of a roof. Most prevalent types are listed on

the property record card.

ROOF MATERIAL

1 Sheet Metal 2

2 Roll Comp. 2

3 B.U. /T. & G. 3

4 Shingle, Asphalt 4

5 Shingle, Metal HD 4

6 Shingle, Asphalt HD 5

7 Shingle, Asbestos 5

8 Cement Tile 6

9 Clay Tile 7

10 Sheet Metal (Stdg. Seam) 9

11 Gypsum 8

12 Corr. Asbestos 8

13 Enamel Metal 8

14 Wood Shingles 8

15 Wood Shakes 9

16 Slate 11

17 Copper 12

18 Modified Bitumen 4

VI-6

Floors include both the sub-floor (if any) and the finished floor or wearing surface.

FLOORS

1 Earth 0

2 Plywood 3

3 S. Pine 5

4 Concrete on Grade 6

5 Concrete & Tile 7

6 Vinyl Tile 8

7 Terrazzo 9

8 D. Pine 10

9 Hardwood 12

10 Carpet & Underlay 12

11 Parquet 15

12 Quarry Tile 17

13 Marble 24

14 Torginol 9

15 Ceramic Tile 17

16 Concrete Raised 8

17 Asphalt Paving 2

18 Stained/Scored Concrete 11

Interior Finish refers to material used to finish the interior of the structure, as well as partition

walls and ceiling. When listing interior finish for commercial structures; apply one half (1/2) of

units for interior walls and one half (1/2) of units for type of interior ceiling units.

Example: Drywall – 30 units x 1/2 = 15 units, Acc. Ceiling Tile – 30 units x 1/2 = 15 units.

INTERIOR FINISH

1 Unfinished 0

2 Painted 5

3 Wd. Or Ceil. Bd. 15

4 Wall Board 18

5 Plaster No Furring 24

6 Plywood Panel 24

7 Plaster & Furring 30

8 Drywall 30

9 Acc. Ceiling Tile 30

10 Wood Panel 35

11 Suspended Acc. Ceiling 34

12 Enamel Metal 50

VI-7

ADJUSTMENTS

Adjustments: This portion of the property record card is devoted to various adjustments often

necessary to recognize variations in construction. Enter the number of units for each adjustment

in the appropriate space. ADJUSTMENTS

1 Apartment Equivalent

2 Special Use

3 Height

4 Partitions

5 Front/Interior

6 Frame/Timber

7 Frame Open Steel

8 Frame Reinforced Concrete

9 Frame Fire Proof Steel

APARTMENT EQUIVALENT

Apartment Equivalent: When more than one living unit exists within a structure, additional

partitions, kitchens, etc., must be accounted for. A table of "Apartment Equivalent" units has been

developed to recognize this additional cost. For example, two apartments on a single floor would

add 11 units. Units are based on the number of apartments per floor and one 3 fixture bath for

each apartment unit is accounted for in the apartment equivalent units. Apartment equivalents will

only be added in once regardless of the number of stories in the building.

APARTMENT EQUIVALENT

One story building with 4 apartments per floor will carry 17 units.

Eight story building with 4 apartments per floor will carry 17 units.

Example: An apartment complex consists of 36 total apartment units housed in three buildings.

Building one contains 12 apartments in a two-story building; therefore, six apartments per floor.

It would carry 19 apartment equivalent units. Building two has 18 apartments in a two story

building; therefore nine apartments per floor. It would carry 21 apartment units. Building three has

6 apartments in a two story building or three per floor; therefore it would carry 15 apartment

equivalent units. In building one and two, each apartment has one bath, so no extra plumbing is

charged. In building three, each apartment unit has two baths, so six three fixture baths are added

in extra features.

VI-8

Number of Apartments

Units Per Floor

2 11

3 15

4 17

6 19

8 20

10 21

12 and over 22

SPECIAL USE UNITS

Special Use: Special Use units were developed to allow for additional costs in the construction of

single-purpose structures but they are not limited to that application. Units may be added when

any structure possesses unique or unusual construction features, to the extent the market indicates

the addition of those units is warranted. The table below shows types of structures which will

require "Special Use" units and the number of units applicable to each. For Banks, use 25-50-75

units according to the amount and quality of special purpose construction costs.

In cases where a special purpose structure was built and later the use was changed, the special use

units would probably no longer apply. An example would be a fast food restaurant that was

converted to an office building. The fact that the use has changed indicated that the building has

reached the end of its useful economic life and the characteristics that served special purposes

would contribute no real value in a different use.

SPECIAL USE UNITS

Shopping Centers + 15

Farm Stores + 15

Convenience Stores + 20

Medical Buildings + 70

Animal Hospitals + 30

Concession Building (Drive-in Theater) + 15

FRANCHISE RESTAURANTS

Franchise restaurants include a variety of structures from fast food, drive-up facilities to nicely

detailed, seated dining facilities. Construction covers a broad range of costs from very basic, low

cost buildings to elaborate, more costly structures. Each of the five grades of special use units

listed below is accompanied by a general narrative description for guidance. Five ranges of units

are provided for the appraisal of each type of construction described. The appraiser is provided

optimum flexibility in deciding the appropriate units to use within a given rage.

1. Low cost (10-20 Units): Wood frame or concrete block walls, built-up tar and gravel, or

equivalent roofing, painted wall board, low cost wood paneling or equivalent interior, painted

concrete or low costs tile floor, simple design, and rectangular shape.

2. Below Average (20 - 35 Units): Wood or light steel frame walls, concrete block exterior,

built-up tar and gravel roofing or equivalent, painted sheetrock or equivalent interior, low cost clay

tile floor, basic design.

3. Average (35-50 Units): Medium wood or steel frame wall, brick or synthetic stucco exterior

or equivalent, built-up tar and gravel roofing, painted sheetrock interior, average grade clay tile

floor, average quality plumbing fixtures, average design.

4. Above Average (50-60 Units): Medium to heavy wood or steel frame, brick or synthetic

stucco exterior or equivalent, steel truss roof with treated metal covering or heavy built-up tar and

gravel, wallpaper interior, with some decorative molding and hand railing, good treated clay tile

floor and/or carpet above average quality plumbing fixtures, good design, custom built.

VI-9

5. Good (60-70 Units): Elaborate design, excellent workmanship and building materials.

Heavy wood or steel frame walls, brick or synthetic stucco or equivalent, steel truss roof with

treated metal covering or heavy built-up tar and gravel or equivalent, elaborate interior decor with

decorative molding and hand railing, multi-level carpeted or hardwood floors, high grade

plumbing fixtures.

Note: The "Special Use" units table on the previous page is designed to fit special use buildings

under ordinary circumstances. Care and judgment should be used in the application of "Special

Use" units. Special circumstances may exist which would require less or additional units based on

the amount and quality of special purpose construction costs.

SERVICE STATION

SPECIAL USE UNITS

Units to Add by Class

Bays

A

B

C

D

E

1

+95

+80

+65

+50

+30

2

+60

+50

+40

+30

+20

3

+40

+30

+20

+15

+10

4

+20

+15

+10

+ 5

+ 3

Do not use if station has been converted to another use.

SERVICE STATION / CONVENIENCE STORE CANOPIES

Cost Per S. F.

Type Low Cost Average Good Excellent

Concrete Tees $22.04 $25.04 $29.20 $33.82

Steel $19.27 $24.12 $30.12 $37.28

Wood Frame & Sheathing $17.19 $21.11 $25.27 $31.28

Oct.2011 Revision

VI-10

PARTY WALL ADJUSTMENT

A party wall is defined as a wall erected on a property boundary as a common support to structures

on both sides, which are under different ownerships. They are typically seen in older downtown

areas where the buildings are built adjoining. When a party wall is encountered, an adjustment

must be made on the exterior wall for the wall or walls that adjoin other buildings under different

ownership.

In the above example, we have two buildings with a common 80 foot wall called a party wall

(PW). Each building will be charged for half or 40 feet. To determine the adjustment first we

determine the total perimeter of each building. Building 1 total perimeter is 80 +80 + 40 + 40 =

240 feet. One 80 foot wall is a party wall, for which the building will be charged for one-half or

40 feet, leaving only 200 feet (240 – 40) of wall for which units are to be applied. For the entire

perimeter (240 feet), Brick & Masonry units would be 38. In this case we have 200 feet after

considering the party wall or 83% (200 / 240 = .8333) x 38 units = 32. Therefore, 32 units would

be placed under Brick & Masonry.

Building 1

Total Perimeter 240 feet

240 – 40 = 200 feet

(total perimeter less ½ of party wall)

200 / 240 = .83

.83 x 38 = 31.54 R/O 32 units

Building 2

Total Perimeter 250 feet

(80 + 80 +45 +45)

250 – 40 = 210 feet

210 / 250 = .84

.84 x 38 = 31.92 R/O 32 units

Oct.2011 Revision

VI-11

(2)+1

PW 80

45

(1)+1

80

40

HEIGHT ADJUSTMENT

Excessive height of stories in structures has a bearing on costs. For this reason, a series of standard

story heights has been determined, and excessive variation from them necessitates adjustments in

wall units. For example, if a warehouse, instead of having a normal height of 12 feet, has 16-foot

walls and if the normal exterior wall units are 33, then the height adjustment for this building is

16/12 or 1.33. Then 1.33 x 33= 44 units or 11 extra wall units would be needed to compensate for

excessive wall height; 33 units would be entered under “Exterior Walls,” and 11 units would be

entered under “Height” in the “Adjustment” column. If a wall varies less than 2 feet from the

normal, no adjustment is necessary.

Following is a table showing normal heights. For above normal heights, measurement must be

made. However, good sound estimates may be made based upon number of courses of block,

brick, stone, boards, etc., after ascertaining measurements of same. When it is necessary to make

a height and party wall adjustment on the same structure, always make the party wall adjustment

first.

NORMAL HEIGHTS

Note: An exception to this table is prefabricated, rigid frame buildings (Butler Buildings).

Normal height is 16 feet and no height adjustment is necessary unless the building is 18 feet or

more.

VI-12

Stories Normal Height Stories Normal Height

Feet Feet

1 12 16 162

2 22 17 172

3 32 18 182

4 42 19 192

5 52 20 202

6 62 21 212

7 72 22 222

8 82 23 232

9 92 24 242

10 102 25 252

11 112 26 262

12 122 27 272

13 132 28 282

14 142 29 292

15 152 30 302

STORY DECIMALS

Note: The above story decimals represent all stories combined in the structure. The upper story

adjustment would be made as follows: Base Area x Story Decimal = Total Adjusted Area.

Example: 5,000 Sq. ft. (Base area) x 4.2 (5 stories) = 21,000 Sq. ft. (Upper floor adjusted area)

Overhead Doors

When listing overhead doors, determine the number of doors and measure the width and height of

the opening and whether the doors are manual or motorized, and price from the Cost Section on

page VI-58.

VI-13

Stories Decimal Stories Decimal

1 1.0 16 13.0

2 1.8 17 13.8

3 2.6 18 14.6

4 3.4 19 15.4

5 4.2 20 16.0

6 5.0 21 16.8

7 5.8 22 17.6

8 6.6 23 18.4

9 7.4 24 19.2

10 8.2 25 20.0

11 9.0 26 20.8

12 9.8 27 21.6

13 10.6 28 22.4

14 11.4 29 23.2

15 12.2 30 24.0

PARTITIONS

Partitions: Many commercial buildings are calculated using the Low Base Rate Table because

they lack partitions as may be found in a house, office, apartment, etc. This is also true for buildings

having lofts over stores, lodge halls over stores, or warehouse types.

When the store portion has more than one stall or store area, it becomes necessary to add units for

the partition work between. The “Partition” table is so arranged as to handle this addition by

consideration of store widths. For example, a store 75 feet wide is broken up into five store stalls:

75

In this example, the ground floor of the building is broken into equal 15-foot widths; and by use

of the Average Stall Width table on page VI-15, 10 units would be added for partitions.

Another example would be in a store with unequal stall widths as follows:

75

In this example, all that is needed is the average stall width, or 75 feet divided by 4 stalls, or 19

feet. By use of the Average Stall Width on page VI-15, 7 units would be added for partitions.

VI-14

40

15 30 10 20

15

40

15 15 15 15 15

15

15

15

15

15

AVERAGE STALL WIDTH UNITS

10 Feet 12

15 Feet 10

20 Feet 7

25 Feet 6

30 Feet 4

Over 30 1

Procedures:

1. Use table shown above for one-story stores. Average stall width = total store width

divided by number of stalls.

2. For buildings of more than one story having storage areas on the upper floors, which

are separated by partitions in the same manner as the store below, use table shown

above.

3. For buildings of more than one story with only one large room on each upper floor, use

the above table for units, then divide these units by number of floors.

Factories and warehouses are generally open area structures with few or no partitions. However,

there is often found an office or display enclosure within the structure. In this case, units must be

applied under “partitions” in the adjustment column, depending upon the partitioned area as a

percentage of the total area.

PARTITIONED AREA UNITS

To 10% +3

11 to 20% +5

21 to 25% +6

Care and judgment should be considered in using this table. This table is designed to cover the

additional cost of an office or display enclosure that is built within the roof confinement of the

factory building. In some cases, it may be better to isolate the cost of the enclosure itself and add

it to the extra features portion of the property record card. If it is contained outside the roof of the

main structure and merely attached to the main building, it should be priced as a separate building.

VI-15

Front and Interior: In many instances, store buildings may be found to have elaborate and/or

excessive amounts of plate glass. Also, interiors of structures may be elaborate. This may be due

to original design or remodeling. In either case, additional cost exists. Rather than make a cost

analysis for such work and material, a table has been developed to add units to recognize the

additional cost.

A normal store front is considered to be plate glass set in aluminum, approximately six feet in

height and extending across the front of the structure except for doors. Higher, longer, or both,

would be considered excessive.

An elaborate interior is considered to be one with excessive millwork, counters of a permanent

type, and excellent interior work in general.

FRONT AND INTERIOR

Stories Elaborate Elaborate Excessive

Front Units Interior Units Front Units

1 7 7 3

2 7 3 2

3 3 3 1

4 1 1 0

This table, more so than any other, requires careful judgment and thought by the appraiser.

Remember that this is an adjustment to recognize additional cost that is above and beyond what

would normally be found in a typical building of its nature.

VI-16

FRAMING

Framing: Framing might be timber, open steel, fireproof steel (structural steel encased in

concrete), or reinforced concrete. Normally, although there are exceptions to this, buildings up to

three stories will have load bearing walls. Anything above this height probably will have framing.

These additional units for framing apply only where the weight of framing components is

excessive for the class of the structure. Examples of excessive framing could include steel columns

and beams erected for the purpose of carrying workloads for cranes or heavy lifts, instances where

heavier than normal framing is required under local building codes or by a particular client, for a

specific reason, or heavier than normal framing employed to produce an impressive visual effect

in a commercial business.

To say that a building has framing in this sense of the word means that the exterior walls could be

removed and the structure would remain standing. Should the exterior walls of the “Butler” Type,

prefabricated building be removed, the structure would remain standing. The heavy steel beams

support the building; the walls are not load bearing.

FRAMING UNITS

VI-17

Stories Timber Open Steel Fireproof Steel Reinforced

Concrete

1 & 2 10 18 35 25

3 & 4 11 19 36 26

5 & 6 12 19 38 27

7 & 8 13 20 39 28

9 & 10 14 21 41 29

11 & 12 15 22 43 30

13 & 14 23 43 31

15 & 16 23 45 32

17 & 18 24 46 33

19 & 20 24 48 34

21 & 22 25 50 35

23 & 24 26 51 36

25 & 26 26 52 37

27 & 28 27 54 38

29 & 30 28 55 39

FRAMING cont.

The table below is designed for the prefabricated rigid frame buildings that are one story. Framing

units do not apply, as a rule, in the calculation of average quality, single-story metal buildings.

Only when the weight of steel framing components is excessive, should Framing-Units be included

in the calculations of a single story steel building (refer to page VI-51, Steel Buildings). Height

may vary and a height adjustment will be necessary for extra height over 16’. The framing

adjustment taken from the table for a building 120 feet wide would be 28 units and it would be

listed under frame open steel in the adjustment section.

FRAMING UNITS

Pre-Fab Rigid Frame Buildings

Width up to 50 ft. 18 Units

Width 51 ft. to 99 ft. 21 Units

Width 100 ft. and over 28 Units

Electricity refers to the type of service, the wiring, and the presence or absence of adequate outlets

and fixtures.

ELECTRICITY

1

None

0

2

Minimum

1

3

Average

3

5

Maximum

5

1. None - means that no usable wiring, outlets, or fixtures exist.

2. Minimum - means little wiring, probably of an open type, with few outlets, small switch or

breaker box, and very inexpensive fixtures.

3. Average - refers to wiring in Romex, B-X, or equal from an approved switch and breaker

box, and including, ample outlets and good fixtures.

4. Maximum - signifies a good electrical system with wiring and conduit, an approved switch

breaker box or boxes, ample outlets, and good fixtures.

VI-18

PLUMBING

Plumbing refers to the quality of fixtures and the presence or absence of. Here commercial and

industrial procedure differs from residential. In all commercial structures, except factories and

warehouses, plumbing units apply and all fixtures are listed under “Plumbing – Extra Features.”

In the case of factories and warehouses, plumbing units do not apply, but all fixtures are listed

under “Plumbing – Extra Features”.

PLUMBING

1

None

0

2

Poor

5

3

Average

8

4

Good

11

1. None - no plumbing exists in the structure.

2. Poor - refers to few and inexpensive fixtures such that would be found in low class

residences or in utility structures of some type.

3. Average - refers to normal plumbing fixtures of average grade.

4. Good - refers to better than average plumbing fixtures.

VI-19

EXTRA FEATURES

Extra Features: Those features in a structure which are not readily adaptable to construction units,

but which represent significant additional cost. In addition to those found in residential structures,

many additional extra features are found to be applicable to commercial-industrial buildings. As

in calculation of residential structures, commercial-industrial extra features are entered into the

replacement cost as dollar amounts. Figures contained in all tables and the cost section are 100

index figures and must be adjusted by use of the location index.

Extra Features – Bath Fixtures and Plumbing refers to actual fixtures observed in the structure.

Record the number of fixtures. The dollar amount is put in the amount column to be added to

other extra features; heat and air conditioning, etc. In larger commercial structures that will have

several restrooms with many fixtures, it may be necessary to list the breakdown of fixtures

separately and list the total number of fixtures on the card.

EXTRA FEATURES

No.

Amt.

No.

Amt.

No.

Amt.

No.

Amt

11 Fx. Bath

1

$9,100

8 Fx. Bath

1

$5,800

Fx. R. R.

Extra Fixture

In the above example, the 11 fixture bath consists of 4 water closets - $890 each, 4 lavatories -

$560 each, and 3 urinals - $1100 each. The 8 fixture bath consists of 4 water closets- $890 each

and 4 lavatories - $560 each. The pricing of these fixtures are from the PLUMBING TABLE found

on page VI-36.

VI-20

EXTRA FEATURES cont.

Extra Features - Heating and Air Conditioning refers to the method by which a structure is

heated and/or cooled. Space heat is listed as “None.” Window cooling units are considered

personal property and should not be listed. For other systems list how fired and description of the

system. Example: Gas, forced hot air. In commercial-industrial type structures the entire building

is not always heated and/or cooled. Should this be the case, the area being served must be noted

and listed for only that part being heated and/or cooled.

Type

No.

Amt.

No.

Amt.

No.

Amt.

No.

Amt.

No Heat

Gas

Oil

Coal

Elec.

Steam

Hot Water

Stoker

Air Cond.

Heat Pump

TOTAL

x ___ INDEX =

When determining the cost figure of heat and air for upper levels, use 75% of the cost figure for

the first floor.

Example: A Bank has 3000 sq. ft. with FHA/AC on the first floor and 3,000 s.f. FHA/AC on the

upper floor would be calculated as 3,000 s.f. x $6.60 for the first floor and 3,000 s.f. x $4.95 for

the upper floor. See heat and air table on page VI-35.

VI-21

COMMERCIAL CLASSIFICATION

Classification: In general, commercial-industrial structures are classified in the same manner as

residences, in that quality of material and workmanship is recognized by class. The system

employs six regular classes plus one special class. The purpose is to recognize costs due to features

which cannot readily be expressed in construction units. Each class can further be adjusted by

using plus (+) or minus (-) to adjust for features present or absent that the appraiser feels should

be accounted for.

CLASSIFICATION UNITS

CLASS MINUS EVEN PLUS

S +135 +161 +174

A + 88 +102 +117

B + 49 + 65 + 78

C + 13 + 24 + 33

D - 5 0 + 5

E - 16 - 12 - 8

F - 32 - 24 - 20

VI-22

COMMERCIAL BASE RATE TABLES

Base Rate: Square-foot rates are influenced by the size of a structure. It is an accepted fact that a large

building will cost less per square foot than a smaller one with the same specifications. As the result of

in-depth research, tables of square foot rates have been developed which reflect the influence that area

or size has on square-foot costs. The base rate tables, two in number, are called “High” Table and

“Low” Table. The deciding factor in choosing the appropriate table is the amount of partitions in the

structure. The “Low” Table applies to a building with few or no partitions. The “High” Table applies

to a building with many partitions. The base rate is taken from the appropriate table using the base area

of the structure. When using the base rate table use table to the nearest 100 base area. Example: 1472

base area on the high table would be rounded to 1500 to use $39.30 sq. ft. rate.

HIGH TABLE LOW TABLE

Base Sq. Ft. Base Sq. Ft.

Area Rate Area Rate

500 $46.70 800 $35.47

600 45.04 1,000 34.58

700 43.50 1,200 34.08

800 42.62 1,500 33.44

900 41.73 2,000 32.92

1,000 40.70 2,500 32.03

1,100 40.06 3,000 31.26

1,200 39.82 3,500 30.89

1,300 39.56 4,000 30.62

1,400 39.43 5,000 29.99

1,500 39.30 6,000 29.61

1,600 39.18 7,000 29.35

1,700 39.05 8,000 28.97

1,800 38.92 10,000 28.58

1,900 38.79 12,000 28.20

2,000 38.79 14,000 27.81

2,100 38.66 16,000 27.56

2,200 38.54 18,000 27.30

2,300 38.41 20,000 27.06

2,400 38.41 25,000 26.42

2,500 38.28 30,000 26.03

2,600 38.15 40,000 25.90

2,700 38.02 50,000 25.52

2,800 38.02 60,000 25.26

2,900 37.90 80.000 24.62

3,000 37.77 100,000 24.11

Oct.2011 Revision

VI-23

In the use of the high and low rate tables, partitions are the governing factor in the proper selection

of the table to be used. Following are examples of typical commercial or industrial construction to

which either the high or low rate tables would apply:

HIGH TABLE

Apartments Special Stores

Duplexes Restaurants

Motels Banks

Store-Apartment Theaters

Offices Clubs

Store-Office Service Stations

LOW TABLE

Garages Shopping Centers

Shops Bowling Alleys

Factories Warehouses

Food Stores Store-Loft

Furniture Stores Parking Garages

Supermarkets Discount Stores

Store-Lodge Hall Department Stores

It is the responsibility of the appraiser, to designate the high or low rate to be used along with the

class of the structure. There follows a series of photographs to demonstrate classes assigned to

various types of commercial-industrial structures. (See pages VI-96 through VI-144)

Adjusted Rate: The base rate table costs are based on structures of average quality of construction.

Adjustments must be made for those structures which are above or below “average” quality of

construction. Quality of construction is recognized by the application of class units.

Predetermined units have been added for those classes above the “average” and deducted for those

below the “average”. Construction units have been carefully assigned to each component part of a

building and represent a weighed percentage expressed by a number of points or units. The sum

of the two types of units is known as “total units.” It is this classification figure, expressed as a

percentage that is used to adjust the base rate to reflect the quality of construction. The resultant

figure is known as the adjusted rate.

Example: Assume 106 total units and a base rate of $38.79:

1.06 (units) x $38.79 = $41.12 adjusted rate.

Location Index: Since cost of construction is not uniform throughout the state, the replacement

costs figure must be adjusted to reflect local building costs. A location factor, or index based on

a survey of local material cost must be developed for each area in which appraisals are to be made.

The adjusted rate, as described above, is multiplied by the location factor to adjust to local per

square-foot cost.

Example: Adjusted rate, $41.12 and location index of 1.05

$41.12 x 1.05 = $43.18 cost per square foot.

VI-24

COMMERCIAL ADJUSTED AREA

The calculation of base areas, adjusted areas, and the decimals for commercial-industrial work is

essentially the same as for residential work.

In order to assist in listing what parts of structures is base area, and what are to be called “decimal”

or adjusted areas, the following example has been set up.

EXAMPLE: BASE AND DECIMAL AREAS

Type Base Area Decimal Area Store, one story, with canopy Store Canopy

Theater with marquee Theater Marquee

Apartment with porches Living Area Porches

Warehouse with loading dock Warehouse Dock

Factory with attached open shed Factory Shed

Two-story structure Ground Floor Upper Floors

Again for convenience, the table of decimals is repeated with additions to it that apply specifically

to use in commercial and industrial structures.

COMMERCIAL ADJUSTED AREA

ITEM SYMBOL DECIMAL Upper Floors

1 1/2 Story +1-1/2 0.2 to 0.6

2 Story +2 0.8

2 ½ Story +2-1/2 1.2

3 Story +3 1.6

Canopy on Warehouse, no Pavement Can. 0.1

Canopy on Warehouse, with Pavement Can. 0.2

Canopy and Loading Dock on Warehouse Can. +D 0.3

Dock only on Warehouse D 0.2

Closed Shed on Store, Etc. U 0.4

Marquee and Elaborate Canopies Can. 0.5

Average Store Canopies Can. 0.2

Low-cost Store Canopies Can. 0.1

VI-25

COMMERCIAL ADJUSTED AREA cont.

Open Porches

One Story – Stoop, Floor only O. P. 0.1

Floor, Roof with Unfinished Ceiling O. P. 0.2

Floor, Roof with Finished Ceiling O. P. 0.3

Two Stories – without 2nd Floor O. P. 0.4

with 2nd Floor O. P. 0.5

Screen Porches

Roof, Floor, Posts, Walls Screened to Floor S. P. 0.4

Roof, Floor, Posts, Walls Screened to Rail S. P. 0.5

Same with Tile Floor S. P. 0.6

Closed Porches

Roof, Floor, Walls, Unfinished Interior C. P. 0.6

Roof, Floor, Walls, Low-cost Interior Finish C. P. 0.7

Roof, Floor, Walls, Normal Interior Finish C. P. 0.8

Carports

Roof, Posts, Dirt Floor P.C. 0.1

Roof, Concrete Floor, Posts P.C. 0.2

Roof, Concrete Floor, Posts, and Ceiling P.C. 0.3

Pre-fab with Concrete Floor depending on class (0.1 – 0.5) P.C. 0.1 – 0.5

Utility Rooms

Unfinished Interior U. 0.4

Finished Interior U. 0.6

Attached Garages

Unfinished Interior, Floor, No Door G. 0.3

Unfinished Interior, Floor, Door G. 0.4

Finished Interior, Floor, No Door G. 0.5

Finished Interior, Floor, Door G. 0.6

Basements

Dirt Floor, Primitive Walls B. 0.1

Concrete Floor, No Finish B. 0.2

Garage under Living Area, No Finish B. 0.3

Concrete Floor, Partially Finished Walls and Ceiling B. 0.3

Concrete Floor, Full Finish, No Partitions B. 0.5

Concrete Floor, Full Finish, Few Partitions B. 0.6

Living Quarters, Equal in Finish to Upper Floors B. 0.7

VI-26

DEPRECIATION

Depreciation is defined as loss of value from any cause. It is also the difference between

reproduction or replacement cost new and market value.

The three (3) Types of Depreciation are:

1. Physical Depreciation – loss of value due to the effect of wear and tear of the building

from use and exposure to the elements. A new improvement would have little or no

physical depreciation, assuming that the construction is complete. However, after the

effects of wear and tear from use of the improvement and weathering, the amount of

depreciation will begin to increase. How rapidly a building will depreciate depends on

how well the improvement has been maintained and the quality of materials used in

construction.

This may be divided into two categories:

Curable – cost to correct is economically feasible. Value added equals or exceeds cost

to correct.

Incurable – cost to correct is not economically feasible. Cost to repair exceeds the gain

in value.

2. Functional Obsolescence – loss of value due to the inability of the structure to

adequately perform the function for which it is normally used. This form of depreciation

exists within the structure. Examples of functional obsolescence include poor planning,

out-of-date design, poor physical layout of rooms, and inadequate or lack of mechanical

equipment.

3. Economic Obsolescence – loss of value as a result of factors external to the property.

These influences include neighborhood decline, governmental regulations and

restrictions, consumer income patterns, and market conditions, such as interest rates,

supply and demand, and inflation rates.

It is the duty of the appraiser to estimate physical depreciation by inspection of the structure and

to estimate obsolescence. The estimated percentage of depreciation deducted from 100 percent

(100%) will render what is called “percent good.” For example, a building which is estimated to

be thirty percent (30%) depreciated is said to be in seventy percent (70%) condition.

Straight-line Depreciation is the most commonly used method and is extensively used by tax

assessors. It assumes that the value of a building will decline at a uniform rate throughout its

useful life. This method can be used on for structures with an age of less than (20) years, then

observed condition must be used and should be the dominant concept used in depreciating a

structure. This involves inspection and investigation on the part of the appraiser. At any time that

observed condition differs from straight-line depreciation, the former should take precedent. A

straight line depreciation table is shown on the following page, but there are definite limits to its

use; at best, it is a guide and must be applied with sound judgment.

VI-27

Commercial Depreciation Schedule

(Physical Depreciation only, Percent Good)

VI-28

Age in Class Class Class Class Class ClassYears A B C D E F

1 0.98 0.98 0.98 0.98 0.98 0.982 0.97 0.97 0.97 0.97 0.96 0.963 0.96 0.96 0.96 0.95 0.95 0.944 0.96 0.95 0.95 0.94 0.93 0.925 0.95 0.94 0.93 0.93 0.92 0.906 0.94 0.93 0.92 0.91 0.91 0.887 0.93 0.92 0.91 0.90 0.89 0.868 0.92 0.91 0.90 0.89 0.88 0.849 0.91 0.90 0.89 0.88 0.86 0.8210 0.90 0.89 0.88 0.86 0.85 0.8011 0.90 0.88 0.87 0.85 0.84 0.7812 0.89 0.87 0.86 0.84 0.82 0.7613 0.88 0.86 0.85 0.83 0.81 0.7414 0.87 0.85 0.84 0.82 0.79 0.7215 0.86 0.84 0.83 0.81 0.78 0.7016 0.86 0.84 0.82 0.79 0.77 0.6817 0.85 0.83 0.81 0.78 0.75 0.6618 0.84 0.82 0.80 0.77 0.74 0.6419 0.83 0.81 0.79 0.76 0.73 0.6220 0.82 0.80 0.78 0.75 0.71 0.6021 0.82 0.79 0.77 0.74 0.70 0.5822 0.81 0.78 0.76 0.73 0.68 0.5623 0.80 0.77 0.75 0.72 0.67 0.5424 0.79 0.77 0.74 0.71 0.66 0.5225 0.79 0.76 0.73 0.70 0.64 0.5026 0.78 0.75 0.72 0.69 0.63 0.4827 0.77 0.74 0.71 0.68 0.62 0.4628 0.77 0.73 0.70 0.67 0.60 0.4429 0.76 0.72 0.69 0.66 0.59 0.4230 0.75 0.72 0.68 0.65 0.58 0.4031 0.74 0.71 0.68 0.64 0.56 0.3832 0.74 0.70 0.67 0.63 0.55 0.3633 0.73 0.69 0.66 0.62 0.53 0.3434 0.72 0.69 0.65 0.61 0.52 0.3235 0.72 0.68 0.64 0.60 0.51 0.3036 0.71 0.67 0.64 0.59 0.49 0.2837 0.70 0.67 0.63 0.58 0.48 0.2638 0.70 0.66 0.62 0.57 0.47 0.2439 0.69 0.65 0.61 0.56 0.45 0.2240 0.69 0.64 0.60 0.55 0.44 0.2041 0.68 0.64 0.60 0.54 0.4242 0.67 0.63 0.59 0.53 0.4143 0.67 0.62 0.58 0.52 0.4044 0.66 0.62 0.57 0.51 0.3845 0.66 0.61 0.57 0.50 0.3746 0.65 0.60 0.56 0.49 0.3647 0.64 0.60 0.55 0.48 0.3448 0.64 0.59 0.54 0.47 0.3349 0.63 0.58 0.54 0.46 0.3150 0.63 0.58 0.53 0.45 0.3051 0.62 0.57 0.52 0.4452 0.62 0.57 0.51 0.4353 0.61 0.56 0.51 0.4254 0.61 0.55 0.50 0.4155 0.60 0.55 0.49 0.4056 0.59 0.54 0.48 0.3957 0.59 0.53 0.48 0.3858 0.58 0.53 0.47 0.3759 0.58 0.52 0.46 0.3660 0.57 0.51 0.45 0.3561 0.57 0.51 0.4562 0.56 0.50 0.4463 0.56 0.50 0.4364 0.55 0.49 0.4265 0.55 0.48 0.4166 0.54 0.4867 0.54 0.4768 0.53 0.4669 0.53 0.4670 0.52 0.4571 0.5272 0.5173 0.5174 0.5175 0.50

Note: The above tables are guidelines only. If observed condition or other supporting data indicate a different effective age is appropriate, the appraiser may substitutethat effective age for the depreciation listed in this schedule.

CALCULATION OF COMMERCIAL PRC

Calculation: Calculation of commercial-industrial replacement costs utilizes the same key factors

as residential calculation. The most significant difference lies in the number of adjustments (i.e.,

apartment equivalent, special use, height, partitions, etc.) that will normally be required in

commercial appraisal. The factors are:

Base Area

Adjusted Area

Base Rate

Adjusted Rate

Location Factor

Extra Features

Condition

Base Area: The base area of a structure is that area upon which the cost per square foot is based.

It is the ground floor of the main body of the structure leaving off canopies, docks, upper floors,

or other appendages.

Example: One-story warehouse with adjusted areas utilizing the Low Table.

Base Area = 30 x 70 = 2,100 sq. ft.

*Base Rate using 2,100 sq. ft. = $32.92

*Low Rate Table

See base rate table page VI-23

VI-29

CANOPY & DOCK +10.3

0.3

8

30

538

30

70

1 + 1

+ 16161616

LOADING DOCK +1

0.2

Example: Two-story office with adjusted area utilizing the High Table.

Dock 0.2

Canopy +1 0.2

Base Area = 1800 Sq. Ft

Base Rate using High Table = $38.92

Adjusted Area: Canopies, docks, upper floors and other appendages to the main body in

commercial structures must also be included in computing total replacement cost and are adjusted

in proportion to their relationship with the main body of the structure by use of decimals or

percentages (see Table on page VI-25). The result is an “adjusted area” to which the unit cost of

the main structure will be applied.

Example: One-story warehouse with adjusted area.

Loading Dock +1 0.2

Can & Dock + 0.3

Base Area 30 x 70 = 2,100 Sq. Ft.

Dock 8 x 30 x 0.2 = 48

Can.& Dock 8 x 53 x 0.3 = + 127

Total Decimal Area (+175) Sq. Ft.

Adjusted Area 2,275 Sq. Ft.

Oct.2011 Revision

VI-30

60

30 1 + 2

+22H

10

30

8

20

70

30 1 + 1

+22H

8

53

8

30

Example: Two-story store-office with adjusted area.

Dock 0.2

Canopy +1 0.2

Base Area 30 x 60 = 1,800 Sq. Ft.

Upper Floor 30 x 60 x 0.8 = 1,440

Canopy 10 x 30 x 0.2 = 60

Dock 8 x 20 x 0.2 = +32

Total Decimal Area +1,532

Adjusted Area 3.332 Sq.Ft.

Condition: This refers to the utility or value remaining in the property. This figure takes into

consideration the loss in value from physical deterioration, functional obsolescence and economic

obsolescence. Physical deterioration may be estimated through visual inspection and the age/life

method, but functional and economic depreciation must be measured by market analysis.

Therefore, the condition or “percent good” is the sum of all types of depreciation applicable to the

property subtracted from 100 percent.

The procedure of computing replacement costs of commercial-industrial buildings is the same as

that of residential buildings, in that the same formula is utilized. However, it is generally more

complex due to numerous adjustments (i.e., apartment equivalent, special use, height, partitions,

etc.) normally required. See Replacement Cost Section at the end of this chapter.

The formula:

Adjusted Rate x Location Index x Adjusted Area + Extra Features x Condition = Value

Oct.2011 Revision

VI-31

8

20

60

30 1 +2

+22H

10

30

Assume a class “D” one-story department store, brick on masonry wall; one wall (80 feet) is party

wall, has central heat and air conditioning, one 12 x 10 overhead door, wall height 16 feet, plate

glass across front 8 feet high, two 2-fixture restrooms. Base area 4,000 square feet, base rate (low

table) $30.62, adjusted area 4,160 square feet, 115 construction units; the condition is estimated at

85%, and location index factor is 1.0. From the above specifications it is seen that the following

adjustments must be made. Exterior wall units must be adjusted to compensate for the party wall;

height units must be added for the additional wall height; and front/interior units must be added

for excessive glass. Dollar amounts must be added for two 2-fixture restrooms, for forced hot air

and air conditioning, and for one motor-operated 12 x 10 overhead door.

Methods used in making these adjustments follow:

1. Adjust for party wall. The perimeter of this building is 260 feet. One 80-foot wall is a

party wall, for which the building will be charged for one-half, or 40 feet, leaving only

220 feet of wall for which units are to be applied. For the entire perimeter (260 feet),

brick in masonry units would be 38. In this case we have 220 feet after considering the

party wall, or 85% x 38 units = 32 units enter under “Exterior Walls.”

2. Adjust for excessive height. Exterior wall height is 16 feet instead of 12 feet.

16/12 = 1.33, 1.33 x 32 units = 42.56 R/O to 43 units, or 11 extra wall units needed to

compensate for excessive wall height. Write 11 units in height column under

“Adjustments.” Note: When necessary to adjust wall units for both party walls and

height, the party wall adjustment should be made first.

3. Add dollar amount for 2, 2-fixture restrooms. Use $1,440 (from Plumbing Table page

VI-36) x 2 = $2,880 x 1.0 (Location Index) = $2,880.

4. Add dollar amount for Central Heating and Cooling. Use $6.41 (from Heating & AC

Table page VI-35 department store) x 4,000 sq. ft. (area served by system) = $25,640

x 1.0 (Location Index) = $25,640.

5. Add dollar amount for 12 x 10 Overhead Door = $13.63 (from Cost Section page VI-

58) + $1,285 (motor operated) = $13.63 x 120 + $1,285 = $2,921 X 1.0 (Location

Index) = $2,921.

VI-32

The sum of Extra Features covering plumbing, heating and air conditioning, and overhead door; $2,880

+ $25,640 + $2,921 = $31,441. Enter this figure under “Extra Features.”

Base Area 4,000 sq. ft.

Base Rate $ 30.62

Construction Units 115 Units

Class Units 0 Units

Total Units 1.15 Units (%)

x Base Rate $ 30.62

= Adjusted Rate $ 35.21

x Location Factor 1.0

= Square Foot Cost $ 35.21

x Adjusted Area 4,160 sq. ft.

= $ 146,474

+ Extra Features $ 31,441

= Replacement Cost $ 177,915

x Condition 85%

= Depreciated Replacement Cost $ 151,227

VI-33

Price elevators from applicable elevator schedule from cost section.

LC - Exterior-low parapets, precast frame and floors, minimal finish. Interior unfinished, minimum

lighting.

AVG - Exterior-partial walls, brick, block, concrete, plain finish. Interior, low level lighting small

office and service areas.

GOOD - Exterior, Partial walls, brick or concrete ornamentation. Interior, unfinished, good office and

service area, good lighting, restrooms.

Oct.2011 Revision

VI-34

PARKING GARAGE

Area SF LC AVG GOOD

1000 $41.30 $52.86 $67.71

2000 $37.37 $47.83 $61.28

3000 $34.94 $44.72 $57.30

4000 $33.76 $43.21 $55.36

5000 $32.67 $41.81 $53.57

6000 $31.90 $40.82 $52.30

7000 $31.36 $40.13 $51.42

8000 $30.96 $39.62 $50.76

9000 $30.52 $39.06 $50.04

10000 $29.27 $37.46 $49.48

20000 $28.69 $36.72 $47.04

30000 $27.98 $35.81 $45.87

40000 $27.48 $35.17 $45.05

50000 $27.21 $34.82 $44.61

60000 $27.08 $34.66 $44.40

70000 $26.92 $34.45 $44.13

80000 $26.79 $34.29 $43.93

90000 $26.65 $34.11 $43.70

100000 $26.61 $34.05 $43.63

110000 $26.45 $33.86 $43.38

120000 $26.42 $33.81 $43.31

130000 $26.31 $33.67 $43.14

140000 $26.28 $33.63 $43.09

150000 $26.21 $33.55 $42.98

160000 $26.15 $33.46 $42.87

170000 $26.11 $33.41 $42.80

180000 $26.08 $33.38 $42.77

190000 $26.04 $33.33 $42.70

200000 & over $26.03 $33.31 $42.68

Heat & Heat Cool

Cool Only Only

SqFt. SqFt. SqFt.

$5.78 $3.56 $3.56

$5.69 $3.47 $3.03

$6.60 $4.67 $4.19

$11.09 $4.35 $6.18

$7.29 $4.62 $4.22

$6.41 $3.43 $4.03

$6.41 $3.43 $4.03

$12.26 $3.41 $4.03

$6.41 $3.43 $4.03

$24.39 $6.05 $5.22

$5.78 $3.56 $3.56

$2.80

$5.86 $3.12 $3.57

$9.37 $5.63 $5.41

$6.60 $4.67 $4.44

$4.67 $2.48 $2.85

$6.60 $4.67 $4.19

$6.60 $4.67 $4.19

$5.69 $3.03 $3.47

$5.13 $2.81 $3.33

$5.72 $3.41 $4.03

$6.41 $3.43 $4.03

$13.83 $5.51 $5.34

$5.86 $3.12 $3.57

Note: Cost SF

$1.57

$2.37

For individually zoned, small offices, multiply office cost by $1.70

Theater

Warehouses

For upper floors use 75% of cost

Suspended Heaters, Gas radiant

Electric Radiant Panels

Shopping Center Strip

Hospitals

Hotel / Motel (Individual Units)

Industrial

Large Fitness Center / Bowling Center

Medical Office Building

Mini Warehouse

Nursing Homes

Office Building

Post Office

Retail Store General

Shopping Centers (Regional)

Hotel/Motel

Grocery Store

Commercial Heat and Air

IMPROVEMENT

Automotive, Tire Shops, Dealership Showrooms

Banks

Casinos

Clubs / Health / Country

Convenience Stores

Department / Retail Stores

Fast Food / (Chain) Restaurants

Apartments

Oct.2011 Revision

VI-35

PLUMBING TABLE

When estimating plumbing fixtures, an average cost of $850.00 per fixture may be used.

When estimating plumbing fixtures, a good cost of $1,210.00 per fixture may be used.

For Apartment houses, motel, and hotels use residential plumbing rates.

COMMERCIAL IMPROVEMENTS

ESCALATORS

32' WIDTH 48" WIDTH

RISE Cost each RISE Cost each

10' $121,968 10' $132,422

12' $126,324 12' $135,907

14' $129,809 14' $141,134

18' $135,907 18' $150,718

22' $144,619 22' $161,172

25' $150,718 25' $168,142

ESCALATORS

For Glass balustrade panels or stainless steel sides add $1,062.86 per foot of rise

Escalators are usually found in major department stores, airport terminals, casinos, shopping malls

or high quality special purpose buildings. Determine the width and height and price from the

schedule.

Oct.2011 Revision

VI-36

Fixture Type Cost per Fixture

Average Good

2 Fixture Restroom $1,440 $2,090

Water Closet Only $890 $1,270

Lavatory Only $560 $820

Urinal $1,100 $1,540

Wash Fountain $3,150 $3,150

Shower Stall $1,280 $1,650

Shower(head only) $220 $290

FIRE PROTECTION (Automatic Sprinklers)

Wet Per SF Dry Per SF

$2.54 $3.23

$1.94 $2.41

$1.36 $1.65

< 10000 SF

10000 - 100000

> 100000

Automatic Sprinklers, Including Alarm and all Accessories

FIRE PROTECTION

Wet & Dry Sprinkler System

Frame & Timber Buildings

FIRE PROTECTION

(Automatic Sprinklers)

Wet Per SF Dry Per SF

$2.19 $2.90

$1.67 $2.16

$1.22 $1.53

<10000 SF

10001-100000 SF

> 100000 SF

Reinforced Concrete & Steel

Most large commercial, motels, restaurants, or industrial buildings will have some provision for

fire protection. Determine the amount of square feet affected by the sprinkler system and the type

of system, wet or dry and price from schedule. Further information can be found in the Cost

Section.

GREENHOUSES

Straight-side greenhouses can be found under Misc. Commercial Industrial Improvements.

Oct.2011 Revision

VI-37

Commercial Greenhouses Hoop Structures

Type Cost SF

GOOD Polycarbonate or acrylic cover, concrete walks $ 11.74

AVG Fiberglass panels, light metal frame $ 5.53

FAIR Metal pipe frame, polyethylene, fiberglass ends $ 3.79

LC Light pipe arch, polyethylene cover, dirt floor $ 2.32

CAR WASH

Cost SF

Excellent $103.53

Good $86.57

Average $70.64

Low Cost $58.91

Excellent $104.50

Good $88.93

Average $73.95

Low Cost $62.79

Good $83.49

Average $69.22

Low Cost $58.65

METAL

BLOCK

FRAME

TYPE (Description)

Open ends, stucco or siding, avg. roof cover, conc. floor

Side walls only, LC siding conc. floor

DRIVE THRU CAR WASH

Best block or conc., masonry trim, good tunnel doors,roof & trim, conc. floor

Face block,or tilt up, tunnel doors,good roof & trim, conc floor

Open ends,block or LC brick,avg roof cover,few trim, conc. floor

Side walls only, conc. block, shed or flat roof, plain, conc. floor

Good stucco,siding or brick veneer,tunnel doors,good roof, conc. floor

Best steel,masonry trim,good tunnel doors,roof & trim, conc. floor

Good metal and steel frame,tunnel doors,good roof & trim, conc. floor

Open ends,enamel siding,light frame,few trim, conc. floor

Side walls only, LC siding on steel frame, shed or flat roof, conc. floor

Cost SF

Good $70.66

Average $53.09

Low Cost $40.97

Excellent $92.10

Good $73.52

Average $56.98

Low Cost $45.29

Good $68.43

Average $52.60

Low Cost $41.52

METAL

BLOCK

FRAME

End & half bay walls only, LC siding or stucco

SELF SERV CAR WASH

Good metal,steel frame,bay doors,good roof, conc. floor

End and bay walls only, enamel siding,light frame, conc floor

End and half bay walls only,LC siding on steel frame, conc floor

Best block or brick, masonry trim, good tiled bays & roof Conc floor

Face Block or brick,bay doors,good roof,conc. floor

End & bay walls only,blk. or LC brick,avg roof & trim, conc floor

End & bay walls only, LC siding or stucco

Good stucco siding or brick v.bay doors,good roof, conc. floor

End bay walls only,stucco or siding, avg. roof & trim, conc. floor

TYPE (Description)

Oct.2011 Revision

VI-38

MONORAILS

5 Ton 57.62

7 1/2 Ton 86.66

$13.78

$24.00

$35.21

Cost per LFCapacity

1 Ton

2 Ton

3 Ton

For curved electrical conductor assembly, add 30%

For electrical conductor assembly, add $26.66 LF

For Curved rails, add 110%

For freestanding, self-supporting runways, add 65%

Monorails have a single rail serving as a track on which a wheeled vehicle can travel.

Monorails and bridge cranes may be found in industrial type buildings such as steel fabrication.

To price either, the appraiser needs to obtain the ton carrying capacity and the lineal footage that

it runs. The hoist or crane itself is priced as personal property.

Oct.2011 Revision(R)

VI-39

Bridge Cranes are a hoisting machine in which the hoisting apparatus is carried by a bridge like

structure spanning the area over which the crane operates.

10 Ton $191.09

25 Ton $235.53

Capacity

2 Ton

3 Ton

5 Ton

Cost per LF

$133.32

$141.58

$158.08

For electrical conductor assembly, add $26.66 LF

For curved electrical conductor assembly, add 30%

For Curved runways, add 110%

For freestanding, self-supporting, add 65%

Bridge Crane


VI-40

COVERED BOAT HOUSES

Cost per square foot including boat dock and slips

Use entire dock areas, including slips, to select and apply unit cost.

For uncovered docks, use 60% of the above cost.

BOAT HOUSE RECREATION ENCLOSURES

Size in Square Feet Cost per Square Foot by Quality Class

Class A Class B Class C

Under 200 $121.00 $110.00 $100.00

200 – 299 $111.60 $101.50 $92.30

300 – 399 $105.70 $96.10 $87.40

400 – 499 $100.40 $91.30 $83.00

500 – 599 $97.30 $88.50 $80.50

600 – 699 $94.20 $85.60 $77.80

700 – 799 $92.00 $83.60 $76.00

800 – 899 $90.31 $82.10 $74.60

900 – 1,049 $87.30 $79.40 $72.20

1,050 – 1,199 $85.90 $78.10 $71.00

1,200 – 1,399 $84.90 $77.20 $70.20

1,400 & Over $84.40 $76.70 $69.70

Notes: For screened-in, or equivalent recreation enclosures, use 85% of above costs.

Add plumbing fixtures from residential plumbing table.

For upper floor, use residential decimal values.

Oct.2011 Revision

VI-41

Size in Square Feet Low Cost Average Good

Under 400 $6.24 $9.76 $17.91

400 – 499 $5.61 $8.77 $16.09

500 – 599 $5.31 $8.31 $15.24

600 – 699 $5.18 $8.11 $14.87

700 – 799 $4.97 $7.77 $14.26

800 - 949 $4.95 $7.74 $14.20

950 – 1,099 $4.84 $7.57 $13.89

1,100 – 1,299 $4.80 $7.51 $13.77

1,300 – 1,499 $4.72 $7.39 $13.55

1,500 & Over $4.67 $7.30 $13.39

COMMERCIAL-INDUSTRIAL MISCELLANEOUS IMPROVEMENTS

Frequently various items of construction are found on commercial-industrial properties which do

not lend themselves to a unit system. These are items such as curbs, docks, greenhouses, fences,

etc. Such items are called miscellaneous improvements and must be listed, priced, and depreciated

apart from stores, factories, and like structures. See tables below for pricing information.

MISCELLANEOUS IMPROVEMENTS

ITEM

Docks, Commercial Wharves, Conc. H Duty

Docks, Commercial Wharves, Wood Hvy. Piling

Docks, Commercial Wharves, Wood Avg. Piling

Fence, Industrial, Chain Link 9 Gauge

in concrete 4 feet

5 feet

6 feet

7 feet

8 feet

10 feet

12 feet

For barbed coils

For 3 strand barbed wire add

Greenhouses, Commercial large area

Steel & wood, glass, wood benches,heat pipe

Aluminum & Glass, Wd. Benches, heat pipe

Metal Frame, fiberglass end walls, polyethylene

cover, dirt floor

Lumber Sheds, Frame

Asphalt Paving, good base

Concrete Paving 6" w/ wire

Pavement Curbs, Concrete

Concrete Paving 4" w/wire

Sheds, Boat Storage, Conc With Conc. Roof

Sheds, Boat Storage, Timber,Wood or Metal

Sq. Ft

$14.99 Sq. Ft

Sq. Ft

Sq. Ft

Sq. Ft

Sq. Ft

Sq. Ft

Lin. Ft.

Sq. Ft

$5.69

$11.79

$3.46

$24.75

$12.20

$2.32

Lin. Ft.

Lin. Ft.

Lin. Ft.

Sq. Ft

Lin. Ft.

Lin. Ft.

Lin. Ft.

Lin. Ft.

Lin. Ft.

Cost Unit

Sq. Ft

Sq. Ft

Sq. Ft

Lin. Ft.

$7.87

$16.90

$3.25

$8.92

$10.95

$12.98

$15.04

$17.09

$21.11

$24.95

$8.54

$2.22

Cost

$96.10 - $146.43

$63.61 - $92.44

$40.04 - $59.26

Cost SF

$17.77

$14.58

$11.96

$9.83

$11.11Excavated, conc walls,& ramp two stalls

LOADING DOCK STRUCTURES

Loading Dock

Steel or conc piers, hvy slab,steel bumper

Timber piers, hvy. Wood floor

Dirt fill, conc. retaining wall & slab, wood or steel bumber

Light wood piers and girders, plank floor

Loading Well

Oct.2011 revision

VI-42

MISCELLANEOUS IMPROVEMENTS cont.

Square Foot Costs

Large Recreational Pools

Area

1000-2000

2000-4000

4000-6000

6000-8000

over 8000

Reinf. Conc. Smooth Reinf. Conc. Tiled Stainless Steel

$62.57

$59.15

$135.82

$131.61

$123.19

$118.98

$55.83

$54.34

$78.93

$75.50

$73.33

$72.18

$70.70

$56.97 $127.40

Costs include heaters, diving boards, ladders.

For smaller commercial pools found in motels and apartments use residential pool rates.

SPAS and HOT TUBS

LC AVG GOOD

$5,126.00 $7,392.00 $9,658.00

$6,930.00 $13,101.00 $19,272.00

$3,190.00 $4,939.00 $6,688.00

$5,302.00 $7,084.00 $8,866.00

$6,468.00 $9,394.00 $12,360.00

$2,090.00 $4,213.00 $6,336.00

Type

Double lounge

Redwood hot tubs

SPAS AND HOT TUBS

Attached to pool, shared equiptment

Detached,including equiptment

Portable, self contained fiberglass or wood

Acrylic /thermoplastic, single lounge

Pine Cedar

$53.16 $70.78

$50.88 $68.29

$49.34 $66.26

$48.46 $64.91

$47.33 $63.57

$46.92 $62.45

$45.38 $60.71

$44.35 $59.33

$43.36 $58.15

$42.68 $57.22

$42.15 $56.34

$41.41 $55.64

500

A-FRAME CABINS

Size

SF

300

400

1600

1800

2000

600

700

800

1000

1200

1400

Cost is for precut packaged A-Frame cabins at resort sites.

Pine Cedar

Add for loft area per SF $15.64 $20.49

Add for stairs $511.04 $670.64

Oct.2011 Revision

VI-43

GRAIN ELEVATOR

Elevator cost are based on total bushel capacity and include complete head-house, tunnel, conveyor

gallery and storage tanks or bins commensurate with the type and size of facility.

Annex cost are for vertical storage facilities. They are to be used for elevators when there is an

exposed leg system and no head-house, or for additional detached storage which uses the head-

house of the original elevator. If the annex has a head-house, it should be priced from the elevator

cost table, using the total capacity of both the elevator and the annex.

Oct.2011 Revision

VI-44

Total Bushel

Capacity

Elevator Annex Elevator Annex

8,000 $14.16

10,000 $13.07 $8.62

15,000 $11.11 $7.84

20,000 $10.02 $6.01 $11.33 $7.23

25,000 $9.15 $5.49 $10.67 $6.88

30,000 $8.45 $5.05 $10.24 $6.53

40,000 $7.58 $4.44 $9.37 $6.10

50,000 $6.88 $4.05 $8.93 $5.75

75,000 $5.92 $3.40 $8.10 $5.23

100,000 $5.23 $3.01 $7.49 $4.88

150,000 $4.53 $2.53 $6.80 $4.36

200,000 $4.01 $2.22 $6.36 $4.09

250,000 $3.66 $2.05 $6.01 $3.88

300,000 $3.44 $1.87 $5.75 $3.70

400,000 $3.05 $1.66 $5.31 $3.44

500,000 $2.79 $1.52 $5.05 $3.27

750,000 $4.53 $2.96

1,000,000 $4.23 $2.74

2,000,000 $3.57 $2.31

over 2,000,000 $3.22 $2.09

GRAIN ELEVATORS

Cost per Bushel

Wood Crib/Metal Clad Concrete

Notes: For attached covered elevator driveway add

$30.50 per SF.

For detached annex silos without tunnel and conveyor

gallery deduct $342 per running foot of Silo.

Deduct $0.46 per bushel for lack of intersticing.

Deduct $0.40 per bushel for concrete jump from

construction.

For concrete staves deduct 30%.

Annex cost are for vertical storage.

Oct.2011 Revision

VI-45

STEEL TANKS

Bushel Capacity Heavy Bolted Steel

Per Tank Cost Per Bushel

15,000 $2.27

20,000 $2.13

25,000 $2.09

30,000 $2.00

35,000 $1.96

40,000 $1.92

50,000 $1.87

60,000 $1.79

80,000 $1.70

100,000 $1.66

125,000 $1.57

150,000 $1.52

175000 1.52

200000 1.48

20-FOOT QUONSET

Area

Sq. Ft. Cost

Steel Frame -- Sheet Metal

Sq. Ft. Cost

Wood Frame -- Sheet Metal

400

$12.14

$11.47

600

$11.48

$10.85

800

$11.25

$10.35

1,000

$10.66

$10.07

1,200

$10.63

$10.04

1,400

$10.46

$9.88

1,600

$10.33

$9.76

1,800

$10.28

$9.71

2,000

$9.91

$ 9.60

Over

$9.91

$ 9.60

Add for plumbing, heat and/or air conditioning, overhead doors. Use decimals for

lesser cost areas such as canopies, dock, etc.

40-FOOT QUONSET

Area Sq. Ft. Cost

Steel Frame -- Sheet Metal

Sq. Ft. Cost

Wood Frame -- Sheet Metal

1,600

$9.70

$9.17

2,000

$9.42

$8.90

2,400

$9.28

$8.76

2,800

$9.16

$8.65

3,200

$9.06

$8.56

3,600

$8.99

$8.49

4,000

$8.93

$8.44

4,400

$8.91

$8.41

4,800

$8.85

$8.36

Over

$8.85

$8.36

Add for plumbing, heat and/or air conditioning, overhead doors.

Use decimals for lesser cost areas such as canopies, docks, etc.

Oct.2011 Revision

VI-46

DRIVE-IN THEATERS

Item to be appraised: Screen

Ticket Booth

Concession Stand

Projection Booth

Permanent Utility Buildings

Pavement

Fences

Screen: Screens are priced per square foot of

surface area.

See table below.

Type

Frame

Low

Avg.

Good

Wood

$13.73

$15.79

$18.76

Steel

$25.40

$32.03

$39.58

Reinforced

Concrete

$37.98

$46.45

$57.20

Ticket Booth: Class according to quality. Generally

Class “C” or “D”. Use Low Rate Table.

Concession Stand: Class according to quality. Generally

Class “C” or “D”. Use Low Rate Table.

Special Use Units: +15

Projection Booth: Class according to quality. Generally

Class “D”

Use Low Rate Table.

Utility Buildings: Use Detached Building Table.

Pavement: From Cost Section.

Fences: From Cost Section.

Typical Cost Per Car Space

Low Cost $1,104.00

Average $1,430.00

Good $1,860.00

Excellent $2,413.00

Oct.2011 Revision

VI-47

TRAILER PARKS

Trailer parks are to be considered commercial properties, and all real improvements are to be

listed. Typical improvements to be listed follow:

Permanent Buildings

Affixed Canopies

Affixed Carports

Affixed Open Porches

Affixed Screen Porches

Affixed Cabanas

Swimming Pools

Patios

Fences

Paved Parking Areas

Shuffleboard Courts

Tennis Courts

It has been found best to place values on sewer, electricity, and septic tanks on a “per-connection”

basis. It is the responsibility of the field man to accurately list total connections for each of the

above listed utilities. See table for pricing:

Mimimal LC Avg Good

$583.00 $850.00 $1,090.00

$316.00 $521.00 $699.00 $975.00

$432.00 $779.00 $1,113.00 $1,611.00

$400.00 $400.00 $400.00 $400.00Sewer Septic

Cost Per Connection

TRAILER PARKS

Sewer Line

Water Line

Electricity

It is recommended that the above utilities be depreciated 30% (70% good) as long as they are in

service.

For pricing of trailer, see Trailer Schedule.

Oct.2011 Revision

VI-48

COLD STORAGE FACILITIES (Metal Clad)

This class of building includes extensive subterranean site preparation, including a poured concrete

sub-floor, covered with a twelve-inch thickness of granular sand and gravel containing a clay tile

pipe forced circulation system. The fill is covered with two thicknesses of three-inch expanded

polystyrene, separated by a ten mil sheet of polyethylene and covered with a six inch concrete slab.

The wall framing is structural steel with metal siding and roof decking. The metal decking is

typically covered with ¾” plywood and ten inches of insulation (expanded polystyrene or

equivalent), which is, in turn, overlaid with a second ¾” plywood covering and built up felt, tar

and gravel roofing. Standard height for cold storage facilities is approximately thirty feet for the

main building and twenty-four to twenty-six feet for the highest point on the attached, dock-high

receiving building.

Area (Square Feet)

Cost

Area (Square Feet)

Cost

Below 35,000

$60.52

275,001 – 290,000

$56.91

35,001 – 50,000

$60.16

290,001 – 305,000

$56.83

50,001 – 65,000

$59.23

305,001 – 320,000

$56.59

65,001 – 80,000

$59.00

320,001 – 335,000

$56.53

80,001 – 95,000

$58.70

335,001 – 350,000

$56.50

95,001 – 110,000

$58.46

350,001 – 365,000

$56.48

110,001 – 125,000

$58.30

365,001 – 380,000

$56.44

125,001 – 140,000

$58.22

380,001 – 395,000

$56.40

140,001 – 155,000

$58.08

395,001 – 410,000

$56.37

155,001 – 170,000

$57.49

410,001 – 425,000

$56.37

170,001 – 185,000

$57.27

425,001 – 440,000

$56.36

185,001 - 200,000

$57.17

440,001 – 455,000

$56.35

200,001 – 215,000

$57.09

455,001- 470,000

$56.34

215,001 – 230,000

$57.06

470,001 – 485,000

$56.29

230,001 – 245,000

$56.99

485,001 – 500,000

$56.26

245,001 – 260,000

$56.97

500,001 and over

$56.26

260,001 - 275,000 $56.94 ………….. ………

Oct.2011 Revision

VI-49

QUIK LUBE Lubrication Pits

The chart below is for lubrication pit only. For the quick lube buildings, use the metal building

schedule or classify and use the low table, as appropriate.

Area (Square Feet)

Cost

280

$6.64

300

$6.34

320

$6.08

340

$5.86

360

$5.65

380

$5.47

400

$5.31

420

$5.16

440

$5.03

460

$4.91

480

$4.80

500

$4.69

520

$4.60

540

$4.51

560

$4.43

580

$4.35

600

$4.28

620

$4.21

640

$4.15

660

$4.09

680

$4.04

700

$3.98

720 & over

$3.94

Oct.2011 Revision

VI-50

STEEL BUILDINGS

A vast majority of metal buildings are Class D in quality of material, workmanship and design. It

is, however, completely appropriate to classify certain metal buildings of below-average quality

as Class E construction. Examples would include inferior concrete work, light-weight framing,

often including wood purling or other wooden structural components, and lighter than average

metal roof and wall covering (29 gauge, compared with standard 26 gauge metal, for example).

Several precautions should be observed when calculating steel buildings. Exterior wall type for

average buildings should be listed as Corrugated Metal (16 units), and under no circumstances

should Metal on Steel (60 units) be used. Framing Units (Page VI-17 in the manual) do not apply,

as a rule, in the calculation of average quality, single-story metal buildings. Only when the weight

of steel framing components is excessive, should Framing Units be included in the calculations of

the normal single-story steel buildings. Examples of those instances would include steel columns

and beams erected for the purpose of carrying workloads for cranes or heavy lifts, instances where

heavier than normal framing is required under local building codes or by a particular client, for a

specific reason, or heavier than normal framing employed to produce an impressive visual effect

in a commercial business. For steel buildings consisting of large, open areas such as stores and

warehouses, the Low Base Rate Table should be used for base rate selection. Steel buildings

comprised of partitioned, small office space, or equivalent, should be computed using the High

Table. Overhead doors should be measured and priced under extra features from the Cost Section

of the manual on page VI-58.

Construction Units for Steel Buildings

Foundation Slab 0

Exterior Walls Corr. Metal 16

Roof Type Gable 8

Roof Material Enamel Metal 2

Floors Conc. on Grade 6

Interior Finish Unfinished 0

Electricity Average 3

Plumbing Average 8

Total Construction Units 43

VI-51

VALUATION OF AFFORDABLE HOUSING (Miss. Code Ann. § 27-35-50(d))

Affordable rental housing shall be appraised using the income approach. Affordable rental housing includes

residential housing subject to Section 42 of the Internal Revenue Code, any other federal, state or similar

program intended to provide affordable housing to persons of low, or moderate income wherein the

occupancy and maximum rental rates of such housing are restricted based on the income of the persons

occupying such housing. Owners of such properties, having recorded land use restrictive agreements, must

provide to the appropriate county tax assessor annually, on or before April 1 of the valuation year, an

accurate statement of the actual net operating income attributable to the property for the immediately

preceding year. The statement must be prepared in accordance with generally acceptable accounting

principles. In the event that the property owner fails to provide the appropriate information by April 1 of

the valuation year, the tax assessor may disregard this procedure.

Procedures for valuing Affordable Rental Housing using the Income Approach

1. Obtain the actual gross income of the property. Actual gross income should be confirmed and updated

annually). Gross income is defined as the rental income from all sources and includes other income

directly attributable to the property, such as income from parking, laundry, vending, insurance proceeds,

and rental of common areas for private functions, e.g., a clubhouse.

2. From actual gross income, subtract actual operating expenses to determine net operating income. Actual

operating expenses is defined as all necessary and normal expenditures required to operate the property,

such as property insurance, management fees, repairs and maintenance expenses, utilities, etc. Improper

expenses include, but are not limited to, depreciation, debt service, income tax, capital improvements,

owner’s business expenses, third party expenses and reserves for replacement. Information used to

support the reported expenses may include, but is not limited to, federal or state wage and withholding

statements, copies of payroll tax information, contracts for property maintenance, utility bills or

summary statements provided by utility company, invoices for insurance coverage (property, health and

employee benefits) and other invoices to support actual expenses of the property.

3. Divide the net operating income by the overall capitalization rate as prescribed by the Mississippi

Department of Revenue.

Calculating Income Approach to Value (Example)

Actual Gross Income $1,500,000

Less: Operating Expenses - 716,250

Net Operating Income $ 783,750

Divided by Capitalization Rate ÷ 10.9%

Indicated Value from Income Approach $7,190,367

Note: The numbers in the above example are for demonstrative purposes only and

should not be used in actual calculations.

Monies received from the sale of tax credits (subsidy) shall not be used in determining

the true value of the property for ad valorem tax purposes.

Reserves for replacement should not be deducted as an operating expense.

VI-52

It is the duty of the assessor to determine that the income statement furnished by or

on behalf of the taxpayer is an accurate presentation. All income and expenses shown

therein should be from true, legitimate, and arm’s length transactions. If the taxpayer

cannot, or does not, furnish evidence required by the assessor in support of the income

statement, the assessor shall use typical income and/or expenses as would be

applicable for other multi-family properties.

The capitalization rate to be used for valuing Section 42 Housing and other low income housing

projects with land use restrictions will be updated annually and made available each year from

DOR. Any questions concerning this procedure should be directed to the Property Assessment

Bureau at 601-923-7600.


VI-53

GENERAL

In many instances, taxing bodies prefer, or are controlled by law, to assess buildings, not completed

by the end of a tax year, on the basis of percentage of construction which has been done.

The table below suggests what has been tested in many instances as an equitable method of

applying percentage. PERCENTAGE OF COMPLETION

Construction Complete

Percent

1. Foundation, Fill, Rough Plumbing, Floor (slab or rough)

20

2. Walls, Roof Frame and Sheathing, Roof Base

40

3. Partitions, Rough Electric, Stub out Plumbing, Window Frames

60

4. Lath, Plaster, Tile Work, Finish Roofing, Outside Stucco or Siding

75

5. Doors Hung, Hardware Installed, Cabinets In, Trim Complete

85

6. Plumbing Fixtures, Electric Fixtures, Water, Heat

96

7. Paint Exterior and Interior

100

It should be noted in the above table that unless building plans are available the actual structure

cannot be measured, drawings made, classification done, and other necessary information

collected until the building is nearly completed. However, it will be found in most cases that some

kind of drawing is available.

Further judgment must be used in the application of the percentages themselves. For example, a

structure could be between two of the above items, in which case it is permitted to use average

percentages.

Metal Mini Storage Facilities

The costs below include bare concrete floors, light steel framing and metal walls and roof. Three

inch vinyl coated insulation and decorative masonry exterior pilasters (optional) separating the

units is also included.

Note: For storage buildings with insulation, add $0.64 per

square foot.

For climate-controlled mini-storage facilities, add

FHA/AC from Commercial Heat & Air Tables.

For large, warehouse-type buildings with wire cages for

storage inside, classify and calculate value using Low

Table, and treat wire cages as personal property.

Oct.2011 Revision

VI-54

Building Area

Sq. Ft.

Cost per

Sq. Ft.

6,000 and under $12.23

6,001 – 6,500 $12.11

6,501 – 7,000 $11.96

7,001 – 7,500 $11.89

7,501 – 8,000 $11.83

8,001 and over $11.54

REPLACEMENT COST SECTION

This portion of the manual deals with "in place" costs on the "100 INDEX" for various construction

items. No effort has been made to list all possible items; only the most prevalent.

Many publications may be purchased on a monthly or yearly basis which lists practically every

possible type of material. Care must be taken, however, to insure that prices are converted to the

proper location index. Most publications indicate a factor to be used for various areas thus making

possible a reasonable estimate of local costs.

It will be found that a majority of the costs listed below are for application in commercial and

industrial work. It is recommended that those involved in this type of estimating should be in

constant touch with local contractors and conditions so as to maintain realistic estimates.

Attempt should not be made to convert dollar values to units without a complete knowledge of

construction.

To properly determine units, it is necessary to set up a typical building, calculate its cost with

known units, then substitute costs from the table and again calculate to see what the difference

between the two structures' cost would be, then work back again to units. For example, if a

building has units (with known walls) which total 110, and the base rate is $39.82 then the adjusted

rate would be $43.80. If the adjusted area is 1,300 square feet, then the replacement cost would

be $56,940. If the same structure were to have a type of wall for which no units have been assigned,

but where the cost of these walls could be determined, and the cost of this structure was, say

$59,500 this divided by 1,300 square feet would be $45.77 per square foot as adjusted cost. Further,

and on the basis of $45.77 / $39.82, the total units would be 115 or 5 more than the original walls.

If the original wall units were 17, then the new would be 17 units + 5 or 22 units.

However, it will be found that the value of this chapter is in extra features and miscellaneous

improvements rather than attempting unit calculations.

Oct.2011 Revision

VI-55

ALL COSTS ARE ON 100 INDEX

AIR CONDITIONING - See Commercial Heating and Cooling Tables Page VI-35

AUTOMATIC SPRINKLERS - See FIRE PROTECTION

BANK INTERIORS:

Vaults Cost per SF

Vault concrete, security $220.00 SF

Vault Modular Security Class M $ 44.00 SF

Vault Modular Security Class 1 $ 56.00 SF

Vault Modular Security Class 2 $ 75.00 SF

Vault Modular Security Class 3 $109.00 SF

Insulated/Record Storage Vaults, Fire Resistance

1 Hour $40.00 SF

2 Hour $50.00 SF

4 Hour $52.00 SF

6 Hour $60.00 SF

CANOPIES:

Commercial & Industrial

LC Average Good Excellent

$22.04 $25.04 $29.20 $33.82

$19.27 $24.12 $30.12 $37.28

$17.19 $21.11 $25.27 $31.28

Cost per Sq. Ft.

Type

Concrete Tees

Steel

Wood Frame & Sheathing

CANOPIES

CEILINGS:

Painting included, where applicable:

Suspended runner, and furring channel $4.98 SF

Plaster, including metal lath $2.83 SF

Plaster on masonry $1.96 SF

Plaster, including gypsum lath $1.96 SF

Gypsum board, taped and painted $1.38 SF

Celotex, 1”, 2” tile or plank, V-joint $1.51 SF

Metal Panel, embossed $3.29 SF

Acoustical Tile, 12" x 12" x 1/2" $1.57 SF

Acoustical plaster on gypsum lath $2.76 SF

Acoustical plaster on metal lath $3.14 SF

Acoustical plaster, 3/4 " on masonry $1.96 SF

Wood Boards or T&G softwood ½” $2.04 SF

Oct.2011 Revision

VI-56

CHIMNEYS:

Small size, with flue tile

8” x 8” $ 94.70 LF

12” x 12” $ 101.88 LF

10” x 18” $ 140.70 LF

Large size, brick, complete: (Base diameter outside)

6’ $ 727.06 LF

8’ $ 924.53 LF

10’ $ 1,126.49 LF

12’ $ 1,476.55 LF

Steel chimneys, complete: (Base diameter outside)

24" $ 176.00 LF

36" $ 250.80 LF

48" $ 322.08 LF

60" $ 403.92 LF

Reinforced concrete, complete: (Base diameter outside)

6’ $ 619.34 LF

8’ $ 767.45 LF

10’ $ 924.53 LF

14’ $ 1,283.57 LF

For square or rectangular chimneys use 1/3 of perimeter for diameter

CRANEWAYS:

Monorails, runway manual:

1 Ton $13.78 LF

2 Ton $24.00 LF

3 Ton $34.22 LF

5 Ton $54.66 LF

7 1/2 Ton $86.66 LF

For curved runway, add 110% .

For electrical conductor assembly, add $26.66 per lineal foot

For curved conductor, add 30%

For free standing self-supporting runway, add 65%

BRIDGE CRANES:

2 Ton $133.32 LF

3 Ton $141.58 LF

5 Ton $158.08 LF

10 Ton $191.09 LF

25 Ton $235.53 LF

DECKS - See FLOORS and ROOFS

Oct.2011 Revision

VI-57

DOCKS – See MISCELLANEOUS IMPROVEMENTS

DOORS:

Residential, quality front metal HC $ 296.51 Each

Residential, quality metal insulated $ 359.26 Each

Residential, wood hardboard slab SC $ 264.92 Each

Residential, Wood pine or fir raised panel $ 416.41 Each

Residential, Wood & Glass, hardwood glass lites $3,517.95 Each

Garage, overhead, industrial or commercial:

8’ x 7’ manual, one car $ 763.05 Each




14’ x 7’ manual, two car $1,335.34 Each



14’ x 12’ manual $2,289.15 Each

For convenience, a figure of $13.63 per square foot of door may be used. Add $1,285.00

per door for motor operated. For mechanical operation, add $569.00 each door.

Rollup $19.38 SF

Overhead HD manual $15.95 SF

Aluminum

Sliding Glass, Auto 2-way $13,971 Each

Fire Doors:

Hollow Metal $39.02 SF

Kalamein, 1-3/4” $33.85 SF

Kalamein, 2-1/2” $38.38 SF

Metal Clad Swinging $35.14 SF

Metal Clad Rolling $34.93 SF

Revolving Door:

Door & Cage 7’ diameter, LC $24,751 Each

Door & Cage 7’ diameter, Average $34,324 Each

Door & Cage 7’ diameter, Good $47,432 Each

Bronze or Stainless, LC $38,291 Each

Bronze or Stainless, Average $50,450 Each

Bronze or Stainless, Good $67,052 Each

Oct.2011 Revision

VI-58

DOORS: cont.

Plate Glass:

Clear ¼” $ 7.89 SF

Tinted ¼” $ 9.49 SF

Tempered Plate ¼” $ 12.50 SF

Bullet Resistant 1 3/16” $ 103.39 SF

Door Openers:

Automatic, LC $ 4,269 Each

Automatic, Avg $ 5,045 Each

Automatic, Good $ 6,252 Each

Interior Doors:

Residential, hardboard HC $ 142.03 Each

Residential, wood HC $ 236.01 Each

Residential, metal HC $ 391.04 Each

Residential, mirrored, plain $ 258.68 Each

Residential, French, wood $ 279.53 Each

Residential, Louver, wood $ 228.61 Each

Residential Solid Core $ 190.68 Each

Residential, Raised Panel $ 190.38 Each

Accordian $ 160.46 Each

Cold Storage Doors: 16 - 25 SF 24 - 60 SF

2” $ 95.83 SF $ 79.28 SF

4” $104.54 SF $ 87.12 SF

6” $113.26 SF $100.89 SF

8” $121.97 SF $108.90 SF

DUMBWAITERS

Stainless Steel, Manual doors $ 12,893.76 Each

Stainless Steel, Power doors $ 33,279.84 Each

Add per stop over two $ 2,896.74 Each

ELECTRICITY:

Residential:

Light wiring, non-metallic, sheathed cable $ 51.43 Per Outlet

Light wiring, armored cable $ 59.28 Per Outlet

Wiring for range $ 231.01 Each

Wiring for air conditioning $ 217.93 Each

Fixtures, average, installed $ 67.99 Each

Door bells, average, installed $ 165.63 Each

Oct. 2011 Revision

VI-59

ELECTRICITY cont:

Commercial: (office, store, apartment, etc.)

Light wiring, rigid conduit $ 104.24 Per Outlet

Fixture, incandescent $ 87.01 Per Fixture

Fixture, average, fluorescent, 2-tube $ 131.43 Per Fixture

Fixture, average, fluorescent, 4-tube $ 181.28 Per Fixture

Fixture average, fluorescent, 2 to 4 tube recessed $ 199.41 Per Fixture

Other: Telephone, TV, sound $ 31.72 Per Fixture

Industrial Light and Power:

Industrial $ 4.11 SF

Warehouse $ 1.93 SF

48” Fluorescent, 2 Tube $ 132.33 Each

48” Fluorescent, 4 tube $ 181.26 Each

Flood Lights:

High Pressure Sodium $1,158.00 Per Fixture

Mercury Vapor $ 956.00 Per Fixture

Metal Halide $1,103.00 Per Fixture

Fluorescent or Quartz-iodine $ 782.00 Per Fixture

Incandescent $ 416.00 Per Fixture

LAUNDRY HOOKUPS:

Washer Hookup: $148.00 Per Outlet

Dryer Hookup: $100.00 Per Fixture

POLES:

Steel $ 64.06 Per LF

Concrete $ 68.64 Per LF

Fiberglass $ 86.94 Per LF

Add per are bracket $ 105.25 Each


VI-60

ELEVATORS:

Cost each

$22,447

$27,568

$33,235

$38,029

$50,996

$65,597

RESIDENTIAL ELEVATORS

Small is 2-3 person capacity

Medium, 2 stop

Medium, 3 stop

medium, 4 stop

700-1200 Lbs.

700-1200 Lbs.

700-1200 Lbs.

Small, 2 stop

Small, 3 stop

Small, 4 stop

Type Capacity

up to 700 Lbs

up to 700 Lbs

up to 700 Lbs

1500 2000 2500 3000 4000 5000

$60,331 $70,894 $79,170 $87,447 $102,366 $115,870

$70,458 $81,239 $90,714 $99,317 $114,998 $128,502

$78,517 $89,734 $99,752 $109,336 $124,146 $138,085

$85,704 $97,574 $107,158 $116,741 $132,422 $146,797

$91,803 $103,673 $113,692 $123,710 $139,392 $152,896

$97,139 $109,771 $120,226 $129,373 $145,055 $159,865

$102,366 $114,998 $125,453 $135,036 $150,718 $165,092

$5,031 $4,912 $5,118 $5,227 $5,314 $5,358

Passenger- Selective/Collective, Electric

FPM

100

150

200

250

350

400

Capacity

Cost per Elevator

Plus cost per stop

300

For observation cars, add $10,400 plus $871 per stop.

For exterior installations, add $14,832.

Oct.2011 Revision

VI-61

Low Rise Apartment House Elevator Cost Add Per

Each Stop

8 passengers, cable 50 FPM, 1500 lbs cap. $52,739 $4,860

12 passengers, cable 100 FPM, 2000 lbs cap. $72,353 $5,012

8 passengers, hydraulic 50 FPM, 1500 lbs cap. $43,150 $9,066

12 passengers, hydraulic 100 FPM, 2000 lbs cap. $61,021 $9,742

ELEVATORS cont.

1,500 2,000 2,500 3,000 4,000 5,000

$24,481 $30,100 $34,543 $39,248 $47,546 $55,321

$30,448 $36,198 $41,600 $46,435 $56,192 $64,469

$35,066 $41,491 $48,134 $52,708 $62,944 $71,983

$39,160 $46,130 $52,599 $58,262 $68,716 $78,299

$44,126 $50,312 $57,281 $63,489 $74,161 $83,962

$49,550 $58,153 $66,438 $71,765 $86,576 $93,545

$9,235 $9,714 $10,324 $10,803 $11,369 $12,023

FPM Capacity

Passenger Selective/Collective, Hydraulic Cost per Elevator

50

75

100

125

150

200

Plus Cost per stop

For observation cars, add $10,400 plus $871 per stop. For exterior installations, add $14,832.

Feet Per Minute

50 100 125 150

$23,261 $31,058 $35,676 $40,685 $6,229

$26,920 $33,715 $38,551 $43,821 $6,599

$29,403 $36,895 $41,382 $46,609 $6,970

$32,104 $39,073 $43,233 $48,352 $7,340

$34,238 $41,034 $44,649 $50,203 $7,710

$37,374 $44,039 $47,045 $52,708 $8,233

$56,410 $66,429 $71,983 $77,864 $8,538

$66,647 $77,755 $83,962 $91,366 $8,864

$81,566 $94,961 $101,930 $109,336 $9,409

$105,851 $121,532 $130,244 $141,570 $9,932

5,000

6,000

8,000

10,000

12,000

15,000

20,000

2,000

3,000

4,000

Plus Cost Per Stop

Manual Power Doors

$16,117

FREIGHT ELEVATORS HYDRAULIC

$11,718

$12,284

$12,720

$13,286

$13,634

$14,244

$14,680

$15,028

$15,551

Capacity

Oct.2011 Revision

VI-62

ELEVATORS cont.

FREIGHT ELEVATORS ELECTRIC

Capacity Feet Per Minute Plus Cost Per Stop

Lbs. 100 200 300 400 Manual Doors Power Doors

2500 $ 70,349 $ 79,279 $ 90,060 $101,930 $6,490 $12,110

4000 $ 75,032 $ 86,576 $ 99,752 $114,563 $7,166 $12,850

5000 $ 77,428 $ 90,387 $ 104,980 $121,532 $7,601 $13,416

6000 $ 79,279 $ 92,783 $ 108,900 $127,631 $7,884 $13,765

8000 $ 82,546 $ 98,010 $ 116,305 $137,214 $8,298 $14,418

10000 $ 88,427 $ 212,573 $ 127,195 $153,331 $8,734 $14,854

15000 $111,514 $ 295,337 $9,409 $15,725

20000 $131,551 $9,932 $16,291

Oct.2011 Revision

VI-63

Add for additional: Cost

For rear door opening, add for the first rear door $ 6,939

For each manual door, add $ 5,400

For first rear power door, add $12,141

For additional rear power doors, add $10,423

For Selective/Collective, add 10%

Manual Controls, deduct 10% from base cost and use manual door cost for stops.

Elevator, Electric, AC RHEOSTATIC CONTROL

FPM CAPACITY(pounds) / Cost each

1200 1500 2000

50 $37,701 $41,709 $47,437

100 $49,179 $107,027 $60,047

150 $57,652 $62,138 $68,694

Add Per Stop $4,596 $4,672 $4,825

ESCALATORS

32” WIDTH 48" WIDTH

RISE Cost each RISE Cost each

10' $121,968 10' $132,422

12' $126,324 12' $135,907

14' $129,809 14' $141,134

18' $135,907 18' $150,718

22' $144,619 22' $161,172

25' $150,718 25' $168,142

Oct.2011 Revision

VI-64

MOVING WALKS

LENGTH COST PER LINEAR FOOT

LINEAR FEET 24" WIDE 36" WIDE 48" WIDE 54" WIDE

40 $3,855.00 $4,225.00 $4,639.00 $4,835.00

60 $3,202.00 $3,354.00 $3,572.00 $3,659.00

100 $2,156.00 $2,352.00 $2,614.00 $2,657.00

300 $1,568.00 $1,721.00 $1,895.00 $1,938.00

500 $1,416.00 $1,546.00 $1,655.00 $1,786.00

750 $1,285.00 $1,459.00 $1,525.00 $1,634.00

1000 $1,241.00 $1,350.00 $1,459.00 $1,525.00

1400 $1,106.00 $1,263.00 $1,376.00 $1,416.00

1800 $1,019.00 $1,198.00 $1,263.00 $1,350.00

For gradients up to 20%, add 1% for each percent over two.

Cost include handrails.

STAIR CHAIRS Cost

Base Cost $7,366.00

Add per foot of travel $87.00

Add for two passenger lift $1,450.00

Add per turn $2,169.00

Hillside installation add $1,438.00

Wheelchair capability, add 50%

For Glass balustrade panels or stainless steel sides, add $1,063.00

SIDEWALK ELEVATORS Cost Each

With sidewalk doors 2,000-3,000 lbs capacity, 25 sq ft Platform $37,266

FENCING:

Industrial Concrete Set with top rail:

Cost LF Cost LF Cost LF

Height 7 Gauge 9 Gauge 11 Gauge

4’ $11.35 $8.92 $8.82

5’ $13.61 $10.95 $10.82

6’ $15.87 $12.98 $12.00

8’ $20.21 $17.09 $15.30

10’ $24.39 $21.11 $18.48

12’ $28.65 $24.95 $21.69

Add for 3 stranded barbed wire $2.22

Add for barbed coils $8.54

For larger installations 1,000-3,000 LF, deduct 5%

For larger installations 3,000-6,000 LF, deduct 10%

For installations over 15,000 LF, deduct 15%

Chain Link Fencing Gates cost each

4’ H 6’ H 8’ H 10’H 12’H

3’ wide $197.00 $348.00 $302.00

5’ wide $261.00 $357.00 $439.00 $535.00

10’ wide $430.00 $535.00 $618.00 $700.00 $787.00

15’ wide $540.00 $696.00 $815.00 $915.00 $1,016.00

20’ wide $664.00 $842.00 $975.00 $1,121.00 $1,236.00

25’ wide $1,048.00 $1,208.00 $1,322.00

Add 25% for sliding gates.

MISCELLANEOUS FENCING

Type of Fence Cost LF

6' wood solid board per LF $16.57

5' wood solid board per LF $15.10

6' solid prefab. Panels, wood per LF $15.65

4' solid prefab. Panels, wood per LF $12.90

6' treated wood per LF $14.91

6' vinyl solid board per LF $18.99

4-5' vinyl solid board per LF $17.89

Pickett, wood per LF $11.81

Wrought Iron per sq ft $11.09

8" concrete block per sq ft $9.79

Add for stucco finish each side per sf $2.59

Common Brick 8" thick per sf $17.25


VI-65

Chain Link Galvanized, with top rail set in concrete:

Residential: Height Cost LF

4' $9.29

6' $12.63

FENCING cont.

Fence Basket Weave Wood

Height Cost LF

6' $19.45

5' $18.90

FARM & RANCH FENCE

Cost LF

Barbed wire 3 strand steel post $2.93



Wood Post add $0.41

Wire Mesh on steel $3.75

1000-3000 LF of fence, deduct 5%

3000-6000 LF of fence, deduct 10%

over 6000 LF of fence, deduct 15%

FIRE PROTECTION:

Wet and Dry Sprinkler Systems

Automatic Sprinklers, Including Alarm and all accessories Cost SF Cost SF

Frame & Timber Buildings WET DRY

< 10000 SF $2.54 $3.23

10000 – 100000 $1.94 $2.41

> 100000 $1.36 $1.65

Reinforced Concrete & Steel WET DRY

<10000 SF $2.19 $2.90

10001-100000 SF $1.67 $2.16

> 100000 SF $1.22 $1.53

Oct.2011 Revision

VI-66

HYDRANTS

Cost each

4" 2 way Siamese connection $ 949

6" 2 way Siamese connection $1,250

STANDPIPE

Standpipe, outside installation 4" per Floor $1,216

Standpipe, outside installation 6" per Floor $1,871

Add for first story Siamese connection 4" $ 992

Add for first story Siamese connection 6" $1,276

FIRE ESCAPES - See STAIRWAYS

FLOOR AND DECKS:

Structural Floor and Roof Sections:

Non-Reinforced concrete, wood float finish, bedded:

3 Inch $2.18 SF

4 Inch $2.31 SF

6 Inch $2.98 SF

8 Inch $3.56 SF

Reinforced concrete, bedded:

3 Inch $2.43 SF .

4 Inch $2.71 SF

6 Inch $3.38 SF

8 Inch $4.22 SF

Reinforced concrete, suspended slab, integral float finish:

2 Inch $ 9.23 SF

3 Inch $ 9.55 SF

4 Inch $ 9.88 SF

5 Inch $10.21 SF

6 Inch $10.54 SF

8 Inch $11.20 SF

Oct.2011 Revision

VI-67

FLOORS AND DECKS cont:

CONCRETE GRADE BEAMS

Size Cost SIZE Cost

Width x Depth LF Width X Depth LF

12" x 16" $22.22 14" x 26" $34.66

12" x 18" $23.78 16" x 30" $39.77

12" x 20" $26.66 16" x 32" $40.88

12" x 24" $30.44 20" x 52" $62.88

14" x 26" $33.11 24" x 52" $69.33

REINFORCED CONCRETE BEAMS

Size Cost LF Size Cost LF

4" x 6" $14.67 10" x 18" $44.22

6" x 8" $22.89 12" x 16" $46.56

8" x 10" $32.22 12" x 20" $51.43

10" x 12" $37.67 12" x 24" $56.55

STEEL ROOF TRUSSES

Light Medium Heavy

Span Cost each Cost each Cost each

30' $2,304.32 $2,805.26 $3,419.46

40’ $3,092.76 $3,737.45 $4,530.24

60' $4,756.75 $5,697.65 $6,838.92

80' $6,381.54 $7,618.64 $9,195.52

100' $8,006.33 $9,652.90 $11,508.55

120' $11,543.40 $13,873.86

140' $13,590.72 $16,160.76

160' $18,491.22

STRUCTURAL FLOOR AND ROOF SECTIONS

Trusses steel, including end connections

Cost each Cost each Cost each

Span Light Medium Heavy

30' $2,396 $2,919 $3,572

40' $3,223 $3,899 $4,748

60' $4,966 $5,924 $7,144

80' $6,665 $7,928 $9,583

100' $8,364 $10,106 $12,023

120' $12,023 $14,462

140' $14,201 $16,901

160’ $19,254

Oct.2011 Revision

VI-68

GOOD PRE-FABRICATED TRUSSED RAFTERS

(COMMON TO LIGHT WOOD FRAMING)


SPAN Light Medium Heavy

20' $ 71 $ 76 $ 82

30' $113 $122 $135

40' $161 $183 $209

50' $218 $257 $301

60' $283 $335 $396

INDUSTRIAL WOOD TRUSSES

(TIMBER OR GLULAM TRUSSES, BELGIAN OR HOWE)


SPAN Light Medium Heavy

20' $ 566 $ 684 $ 950

40' $1,777 $2,243 $2,875

60' $3,507 $4,400 $5,576

80' $5,706 $7,100 $8,886

100' $8,364 $10,367 $12,720

FOUNDATIONS:

Concrete Footing:

8” x 16” $14.21 LF

12” x 12” $14.95 LF

12” x 18” $16.08 LF

12” x 20” $17.17 LF

Foundation Walls:

8” concrete block $ 7.73 SF

12” concrete block $ 9.15 SF

8” concrete $10.89 SF

12” concrete $12.22 SF

8” reinforced concrete $12.22 SF

12” reinforced concrete $14.00 SF

Driven to pile capacity:

Reclaimed or local untreated $ 16.12 LF

Wood, treated 12” $ 21.17 LF

Wood, creosote 12” $ 21.63 LF

Steel Pipe conc filled 12” $ 45.26 LF

Concrete, in drilled holes 12” $ 25.66 LF

Concrete, pre-cast $ 32.19 LF

Steel H Beam 12” x 12” $ 48.79 LF

Oct.2011 Revision

VI-69

Decking:

Wood board or plywood sub-floor or roof sheathing $1.44 SF

Wood plank, 2” $3.82 SF

Wood plank, 3” $5.71 SF

Steel, corrugated $3.41 SF

Gypsum, poured over gypsum board 2”-3” $3.34 SF

Gypsum 2” plank $4.57 SF

Fiberboard 2” T&G $3.04 SF

Concrete Reinforced Slab 4”-6” $10.02 SF

Oct.2011 Revision

VI-70

FLOOR COVERINGS:

Bamboo, laminated plank $ 6.93 SF

Brick, Pavers $ 7.29 SF

Concrete, Color $ 1.18 SF

Concrete, staining $ 3.32 SF

Hardwood, gymnasium $11.31 SF

Linoleum $ 3.93 SF

Rubber, Tile or sheet $ 5.78 SF

Slate, grouted $10.89 SF

Terrazzo $ 7.38 SF

Tile, asphalt $ 2.25 SF

Tile, ceramic or quarry $ 6.93 SF

Tile, cork $ 3.96 SF

Tile, marble $17.69 SF

Tile vinyl, sheet or tile $ 2.12 SF

Wood, hardwood $ 6.67 SF

Wood, parquet $ 8.89 SF

Wood, Pine $ 5.29 SF

FRONTS, STORE:

Cost per square foot of actual front including door and glass areas, but not bulkhead or sign

areas.

BASIC STOREFRONT COST PER SF

LC Avg. Good

Wood Trim $13.97 $17.94 $22.85

Aluminum Trim $20.35 $27.38 $36.65

Stainless or Bronze Trim $33.63 $43.98 $58.64

Structural Glazing, no trim $54.33 $76.75 $112.11

Greenhouse or curved glass $40.32 $49.16 $60.37

BASIC BULKHEAD WALLS COST PER SF

LC Avg. Good

Wood Frame $ 4.57 $ 5.73 $ 7.20

Steel Frame $ 4.66 $ 6.55 $ 9.23

Conc. Block Masonry $ 7.24 $ 9.31 $12.16

add for Face Block $ 1.02 $ 1.68 $ 3.28

Concrete formed $11.30 $14.57 $18.71

Concrete precast or tilt up $ 8.24 $10.26 $12.85

add for textured finish $ 0.93 $ 1.99 $ 3.90

Brick Masonry $13.54 $16.64 $20.61

add for face brick $ 2.08 $ 2.61 $ 3.28

Oct.2011 Revision

VI-71

GOLF COURSES:

The following valuation schedule is based on actual market information collected in the

Mississippi region. The values contained in this schedule include a base value for land, so the

appraiser should not add any additional value for land. Values in this schedule are for golf course

area only and do not include value for excessive land in the same parcel. Additional land in the

same parcel should be valued equally with surrounding property. County indexes must not be

applied to the values on this schedule, because golf courses typically appreciate at a slower rate

than most other properties. This valuation schedule will be reviewed from time to time, and

updated values will be inserted in the appraisal manual as appropriate.

The appeal of golf courses, and the levels of their subsequent selling prices, largely depends on

the individual reputations of each course. The several contributors to the reputation of a golf course

include, course design and layout (possibly by a name architect), terrain, location, notoriety, and

ongoing maintenance. The reputations of golf courses relate directly to their ability to generate

revenues, which in turn impacts their selling prices.

As of this date, golf courses in Mississippi should be classified as Class V and below.

Depreciation of underground irrigation systems is a straight line, based on a twenty-year life

(5% depreciation per year) with a final net condition of 10% after twenty years.

Class I Per hole . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $12,500 - $32,500

Irrigation system per hole, manual . . . . . . . . . . . . . . . . . . $ 5,000

Class II Per hole . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $39,200 - $51,200

Irrigation system per hole, manual . . . . . . . . . . . . . . . . . . $ 7,500

Irrigation system per hole, automatic . . . . . . . . . . . . . . . $13,500

Class III Per hole . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $54,000 - $64,000

Irrigation system per hole, manual . . . . . . . . . . . . . . . . . . $10,000

automatic . . . . . . . . . . . . . . . . $22,000

Class IV Per hole . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $67,500 - $77,500

Irrigation system per hole, automatic . . . . . . . . . . . . . . . . $25,000

Class V Per hole . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $80,000 - $90,000

Irrigation system per hole, automatic . . . . . . . . . . . . . . . . . . $30,000

Class VI Per hole . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $97,500

Irrigation system per hole, automatic . . . . . . . . . . . . . . . . . . $35,000

The above values are based on market sales of golf courses. Land value is included in the above

values. Do not add additional value for land. The current use of the land is based on golf course

properties and is not comparable to land sales of some other use. The value per hole should be

added as land value (do not apply county index). The cost of irrigation system is to be valued as

an improvement and the county index does apply.

VI-72

GUTTERS AND LEADERS:

GUTTERS AND DOWNSPOUTS

Material LC Avg. Good

Aluminum $ 4.92 $ 7.74 $10.54

Copper or Stainless Steel $11.24 $14.20 $17.16

Fiberglass or Vinyl $ 4.62 $ 5.88 $ 7.14

Wood $ 8.97 $10.98 $12.98

Galvanized $ 4.53 $ 6.80 $ 9.06

HEATING - See COMMERCIAL HEAT TABLE

INSULATION - See ROOFING

INTERIOR FINISHES - See Also INTERIOR UNITS

Wall Finishes:

Furring, wood strip on masonry $ 0.73 SF

Furring, wood strip on wood $ 0.63 SF

Furring on Metal $ 1.18 SF

Plaster 2 coat metal lath $ 2.66 SF

Plaster, 2 coat gypsum lath $ 2.62 SF

Plaster, 2 coat masonry $ 2.22 SF

Add for Keene finish $ 0.58 SF

Plywood paneling, softwood $ 1.61 SF

Plywood paneling, hardwood $ 2.66 SF

Drywall ½”-5/8” taped $ 1.18 SF

Wood paneling ½”-1” boards .

Softwoods $ 3.14 SF

Hardwood $ 4.79 SF

Cedar $ 4.40 SF

Wallpaper vinyl $ 1.36 SF

Paint .

Prime Coat $ 0.29 SF

Enamel per coat $ 0.11 SF

Stain and wax 2 coats $ 0.58 SF

LATH - See INTERIOR FINISHES

LIFTS - See ELEVATORS

LIGHTING - See ELECTRICAL

Oct.2011 Revision

VI-73

MEZZANINES:

Storage mezzanine - Bare floor joists or fiberboard soffit, light load $ 10.76 SF

bearing construction, no finished flooring.

Display mezzanine - Low cost, acoustical tile or equivalent soffit, $26.48 SF

moderate load bearing construction, vinyl flooring or equivalent.

Display mezzanine - Average to above-average, drywall soffit or plaster $36.88 SF

soffit, moderate to heavy load bearing construction, carpet and/or vinyl tile

flooring.

Office mezzanine - Drywall or plaster soffit, moderate to heavy load $47.96 SF

bearing construction, drywall or plaster partitioned offices with drywall

or suspended tile ceilings.

PAINTING - See INTERIOR FINISHES

PARTITIONS - See Also INTERIOR FINISHES

Structural:

Wood Studs, 2” x 4”, 16” OC $ 1.59 SF

Wood Studs 2”x4” 12” OC $ 2.02 SF

Wood Studs 2”x6” 16” OC $ 2.09 SF

Metal Studs, 4”, 16” OC 20ga $ 2.05 SF

Metal Studs, 6” 19” OC 20ga $ 2.42 SF

Concrete block, 8” reinforced $ 6.71 SF

Concrete block, 8” unreinforced $ 6.36 SF

Concrete block, 6” reinforced $ 6.19 SF

Concrete block, 12”unreinforced $ 7.89 SF

FINISHES - See INTERIOR FINISHES

PATIOS - See MISCELLANEOUS IMPROVEMENTS

PAVING - See MISCELLANEOUS IMPROVEMENTS

PILINGS - See FOUNDATIONS

PLUMBING - See PLUMBING TABLE on Page VI-36

Oct.2011 Revision

VI-74

ROOFING:

Roll Composition:

15-lbs. felt underlay $ 0.22 SF

90-lbs. mineral surfaced $ 0.85 SF

Built-up Composition:

2-ply 15-lbs. felt, hot mopped $ 1.25 SF




Add for gravel. $ 0.29 SF

Modified Bitumen, single ply $ 3.96 SF

Reinforced sheet $ 5.04 SF

Shingles:

Light to 235# $ 1.46 SF

Heavy over 235# $ 3.66 SF

Wood Shakes $ 3.38 SF

Wood Shingles $ 3.10 SF

Fiber Shingles $ 2.13 SF

Add fire resistant finish $ 0.55 SF

Copper $ 9.35 SF

Corrugated:

Steel 26-30 ga $ 2.27 SF

Steel heavy 18-24 ga $ 6.47 SF

Shingles $ 3.71 SF

Add for porcelain finish $ 2.96 SF

Terne, flat or standing $ 10.15 SF

Copper, fit or standing seam $ 10.93 SF

Elastometric, single ply $ 3.86 SF

Reinforced or spray fluid coat $ 5.22 SF

Fiberglass, corrugated or sheet $ 1.86 SF

Cement fiber shingles $ 3.97 SF

Corrugated or sheet (Transite) $ 7.41 SF

Tiles:

Clay $ 7.69 SF

Concrete $ 4.67 SF

Plastic or Rubber $ 3.96 SF

Slate $ 7.50 SF

INSULATION:

Aluminum in foil single ply $ 0.29 SF

Add per additional ply $ 0.14 SF

Expanded Mica $ 1.15 SF

Fiberboard ½” wood $ 0.79 SF

1” $ 1.02 SF

2" $ 1.55 SF

Oct.2011 Revision

VI-75

INSULATION cont:

Fiberglass or Rock wool:

1” board $ 1.32 SF

2" board $ 1.90 SF

Batts or roll 2 ½” $ 0.58 SF

3 1/2” $ 0.64 SF

6” $ 0.91 SF

Foamglass 1” board $ 2.71 SF

2” board $ 3.49 SF

3” board $ 4.43 SF

Polyurethane 1” board $ 1.45 SF

2” board $ 2.02 SF

3” board $ 2.63 SF

Polystyrene 1” board $ 1.16 SF

2" board $ 1.68 SF

Blown Loose-fill R-13 $ 0.77 SF

SEPTIC TANKS:

Installed Complete:

750 gallon $ 1,009 Each

1,000 gallon $ 1,311 Each






10,000 gallon $13,497 Each

Oct.2011 Revision

VI-76

SOLAR ROOMS:

Three sided lean-to glass solar rooms with curved eaves attached to a permanent structure, used

for residential or commercial applications. Average cost represents tempered glazing in a good

metal tubular frame. Good cost represents an insulated coated and safety tinted glass.

SPUR TRACK:

SPUR TRACK

Weight Lbs per yard Rail Size Cost LF Add for Switch & Turnout

40# 3 ½” x 3 ½” $ 53.77 $18,330

60# 4 ¼” x 4 ¼” $ 67.95 $22,880

80# 5” x 5” $ 80.54 $26,335

100# 5 3/8” x 6 5/8” $ 92.21 $29,218

115# 5 ½” x 6 5/8” $ 99.99 $32,124

130# 6” x 6 ¾” $107.08 $34,457

.

STAIRWAY:

EXTERIOR AND BASEMENT STAIRS

Cost per Riser LC AVG GOOD

Concrete $139.55 $194.16 $270.12

Steel pans or prefab, conc. on steel $155.51 $211.92 $288.55

Steel or Aluminum grating $179.78 $239.11 $318.21

Wood $ 59.53 $ 84.27 $131.24

Oct.2011 Revision

VI-77

SOLAR ROOMS

Area SF Avg. Good

50 $89.86 $242.09

100 $75.77 $203.97

150 $68.15 $184.11

200 $63.29 $171.40

250 $60.29 $162.39

300 $57.06 $155.23

400 $53.59 $144.38

600 $48.51 $130.52

800 $45.05 $121.51

1000 $42.50 $115.50

STAIRWAY cont:

INTERIOR STAIRS (each full flight of stairs)

Disappearing Stairs:

Fold up Wood $ 150.00 Each

.

Fire Escapes:

Steel $4,989.00 Each

Additional story $3,000.00 Each

Oct.2011 Revision

VI-78

Cost per Flight LC AVG GOOD

Metal Spiral $2,463 $3,182 $4,162

Interior Hardwood $1,351 $2,114 $3,334

Hardwood, Spiral or Curved $3,705 $5,361 $7,911

TENNIS COURTS:

TENNIS COURTS LC Avg. Good

Concrete court/Per SF $3.69 $4.69. $5.69.

Add for resilient cushioned layer/ per SF $1.05 $2.70 $3.75

Asphalt Court 2”-4” /per SF $3.02 $4.03 $5.03

Clay Court Per SF $2.97 $3.69 $4.39

TENNIS COURT FENCING

Height #9 Ga. Wire LF #11 Ga. Wire LF

8’ $16.93 $14.41

10’ $20.91 $17.75

12’ $24.71 $21.14

TRASH ENCLOSURES:

Masonry Trash Enclosure LC Avg. Good

Cost Each $1,716.00 $2,562.00 $3,409.00

VENTILATION FANS:

Vent Fans Wall

Size Cost Each

24” $958.00

30” $1,024.00

36” $1,241.00

42” $1,372.00

48” $1,590.00

54” $1,873.00

Oct.2011 Revision

VI-79

Tennis Court Lighting

per court

Lighting LC Avg. Good

$8,260.00 $9,796.00 $11,332.00

For 2 or more courts, deduct 5%

WALLS:

Masonry Walls Cost SF

4” Concrete Block w/ pilasters, reinforced $6.82

6” Concrete block, reinforced $7.87

8” Concrete block, reinforced $8.37

Add for stucco finish each side $2.59

Common Brick 8” thick $15.06

8” Block buildup $12.86

Add for each additional 4” thickness of brick $4.92

Cobblestone walls 12” $18.99

Limestone Veneer on 8” conc. block $33.98

Marble veneer on 8” Conc. block $54.46

Granite veneer on 8” Conc. Block $37.86

WELLS:

Residential and Commercial

Pump H.P. Shallow to 25’ Deep to 100’

1/3 $1,351.00 $2,898.00

½ $1,482.00 $3,007.00

¾ $1,678.00 $3,204.00

1 $1,722.00 $3,334.00

1 ½ $1,918.00 $3,639.00

Oct.2011 Revision

VI-80

WINDOWS:

TYPE LC Avg. Good

Aluminum

Casement $11.73 $16.04 $20.35

Double Hung $11.25 $14.19 $17.12

Jalousie $13.63 $17.89 $22.16

Single Hung $9.66 $12.25 $14.83

Sliding Horizontal $7.80 $11.12 $14.45

Bronze or white finish, add 15%

Vinyl

Casement $14.07 $19.25 $24.42

Double Hung $13.51 $17.02 $20.54

Jalousie $16.35 $21.47 $26.60

Single Hung $11.59 $14.70 $17.80


Steel Sash

Casement $11.08 $16.58 $22.08

Fixed Industrial $8.88 $14.53 $20.18

Vented industrial $10.13 $17.59 $25.05

Wood Sash

Projected $18.41 $24.82 $31.22

Casement $15.87 $20.63 $25.40

Double Hung $13.02 $16.34 $19.66

Single Hung $12.25 $14.53 $16.82


For metal or vinyl clad, add $6.60 $8.21 $9.83

Storm Windows $3.66 $5.32 $6.97

Oct.2011 Revision

VI-81

BUILDING CODE NUMBER

TYPE OF STRUCTURE

Number Type Abbreviation

1 Residence RES

2 Duplex DUP

3 Triplex TRI

4 Multi-family APT

5 Garage GAR

6 Utility UTIL

7 Carport PC

8 Patio PAT

9 House Trailer MH

10 Cabana CAB

11 Swimming Pool POOL

12 Greenhouse GHSE

13 Screened Enclosure SCEN

14 Wood Deck or Dock WDK

15 Concrete Deck or Dock CDK

16 Fencing FEN

17 Concrete Paving CONC

18 Asphalt Paving ASPH

19 Wall WALL

20 Shed, B-20, 30 Series SHED

21 Barn, B-40, 50 Series BARN

22 Poultry House PHSE

23 Cribs CRIB

24 Silo SILO

25 Grain Storage Bins BIN

26 Store STOR

27 Store-Loft STLO

28 Store-Apt. STAP

29 Store Office STOF

30 Office OFF

31 Bank BANK

32 Parking Garage PKGR

33 Theater THEA

34 Supermarket MARK

35 Shopping Center SHCN

36 Tunnel TUNN

37 Bridges BRID

Oct.2011 Revision

VI-82

Number Type Abbreviation

38 Factory FACT

39 Warehouse WHSE

40 Automobile Agency or Garage AUTO

41 Service Station SS

42 Canopy CAN

43 Restaurant REST

44 Drive-in Restaurant DRES

45 Motel MOT

46 Tower TOW

47 Tank TANK

48 Addition ADDN

49 Alteration ALTR

50 Garage Apt. GAPT

DEFINITION OF TERMS

Type of Structure applies to the name of a building such as residence, garage, shed, utility,

apartment, etc.

Year Built governs depreciation, so is quite important.

Rooms--This is an informational item which can help in many ways. It requires a number to be

written in.

Total Rooms refers to the total number of rooms in a structure, exclusive of baths,

which are called for below.

Efficiency Apartments are those without separate bedrooms. Here the total number of

apartments within a structure is to be noted.

Room Apartments--Two figures are required; the number of rooms in each apartment,

and the number of such apartments.

Number of Baths--This indicates the number of rooms having bath equipment in them.

These rooms have not been listed elsewhere.

Number of Restrooms--This refers to toilet room facilities not listed as baths. This applies to

restrooms in such as service stations, theaters, offices, etc.

Fixture Restrooms--This again requires two sets of figures, the number of fixtures per

room, and the number of such rooms.

Total Fixtures--This is used especially for commercial structures where their

specifications call for no plumbing. It is total of all fixtures in a structure, exclusive of

kitchen sinks.

Oct.2011 Revision

VI-83

Foundation is defined as the sub-structure of any building. It may be in many forms, but for use

with this system applies only to the following:

Continuous Wall, meaning that the foundation, whether it is masonry or wood,

continues around the perimeter of the building.

Piers are either masonry or wood parts.

Piling may be concrete, steel, or timber, driven into unstable soil to a point where they

will have proper bearing qualities that will support their share of the structure's load.

Piling may be driven as single units or in "clusters."

Exterior Walls are defined as the materials involved in the walls or external vertical perimeter of

a structure.

Wallboards can be any of the various man-made materials on wood or metal framing, such

as "Homosote", "Celotex", or other trade name products. These must be treated or painted

to withstand weather.

Corrugated Metal can be steel or aluminum siding. This usually is manufactured in sheets

which can be fastened to wood or metal framing.

Corrugated Asbestos or sheet asbestos, sometimes called by trade names such as

"Transite". This is manufactured in sheets which can be fastened to either wood or metal

framing.

Wood Frame, Stucco is a type of wall which if formed by applying cement stucco to a

framework of wood with wire or wood lath.

Wood Frame, Asbestos refers to asbestos shingles laid over wood frame with sheathing.

Concrete Block Plain is a wall of 8-inch concrete block. If other thicknesses are to be noted.

Concrete Block Stucco, is a wall of 8-inch concrete block. If other thickness is found then

the thickness is to be noted.

Wood Frame Siding denotes any type of wood framing with or without sheathing and wood

siding.

Tile Stucco refers to terra cotta tile (8-inch) with cement stucco applied to the exterior. If

other thicknesses are found, then these are to be noted. Terra cotta tile, being a baked clay

product, is sometimes called hollow tile.

Brick refers to 8-inch common brick exterior wall facing. This may be an 8-inch brick

wall, or brick as a veneer over wood, concrete block or other brick, and can be in various

other thicknesses, in which case this should be noted. Face brick should also be noted.

Oct.2011 Revision

VI-84

Composition refers to composition siding which comes in varied thicknesses and in rolls.

It is fastened over wood framing by nailing.

Stone on Masonry refers to various good stone veneers on masonry.

Rough Stone refers to various types of stone which vary in thickness. This is also used as

a veneer over wood.

Reinforced Concrete walls are considered to be 8 inches thick unless otherwise noted.

These walls of concrete may be reinforced with steel rods and either poured in place, or

otherwise raised into position.

Metal on Steel refers to metal which has been made up and fastened to steel framing.

Roof Type has two meanings: the shape (see "Roof Shape") and the framing involved.

Flat Shed is either a flat roof or one with a pitch to one direction.

Hip, Gable--The hip roof is pitched in several planes while the gable is in two directions.

Bar Joists are fabricated steel open trusses which have been set rather closely together, and

serve as roof beams or ceiling joists. The span of these is limited due to their lightness and

depth. Bar joists limit roof shape to flat or shed.

Wood Trusses are made up of various size lumber or timber, and can be flat, shed or pitched

each as for gable roofs. Light trusses for residential are either nailed together or fastened

with metal plates. Spans are limited to depth of trusses, and are shorter in timber than steel

due to strength of materials.

Pre-stressed roofs are made up of concrete which has been made up elsewhere, pre-stressed

(poured with steel reinforcing) and is erected in place with cranes. This type of roof is

either flat or shed in shape and requires a roofing material to make it watertight.

Steel Trusses are made up of various shapes of steel members, either bolted or welded

together, and which can, due to strength of steel and depth of truss, cover large spans in

either flat, hip, gable, deck, mansard, monitor or gambrel shapes.

Roof Materials may be better called "roofing" since this is the finished or wearing surface of a

roof.

Sheet Metal, Roll--Sheet metal is either flat, corrugated or V-crimp metal of either

aluminum or steel products, and is fastened in place over wood or steel framing. Roll

roofing is a composition type which comes in varied thicknesses and in rolls. It is

fastened down with tar products, by nailing, or both.

Oct.2011 Revision

VI-85

Tar and Gravel, B. U.--Tar and gravel furnish a wearing surface of gravel embedded in

tar which, in turn is hot-mopped over types of composition roofing. Also, tar and gravel

may be placed over concrete, metal, or gypsum. This product requires a very low pitched

or flat roof shape. Built-up refers to types of composition roofing in layers with mopped

tar between.

Shingles Asphalt--This refers to composition shingles which come in strips, or metal

shingles. This type is fastened down by nailing to some type of sheathing.

Shingles, Asphalt HD- This refers to composition shingles of a heavier density than

typical asphalt shingles, and have an architectural design to give a dimensional look.

Shingles, Asbestos--These are made of asbestos products. They come in individual

shingles and are fastened down in the same manner as wood or composition shingles.

This type roofing is fire-resistant and long lasting.

Tile-Cement is a cement product in either a flat or half-round form. This is laid over a

built-up surface, and painted to give a long-lasting and quite durable wearing surface.

This type of roofing requires heavier framing due to its weight.

Tile-Clay is usually a half-round clay product, which has been kiln baked to a hardness,

which gives a wearing surface that needs no paint. This is usually a red color. Again, a

heavier framing is required.

Bermuda roofing is formed from lightweight cement and/or gypsum products to give

appearance of a heavy, wide lapped roof.

Slate forms, although it is fast becoming obsolete due to many factors, cost being one, is

a fine wearing surface.

Gypsum is not finished roofing, or wearing surface due to its softness. It does form a

sheathing being in either poured or plank form. Gypsum is fire resistant.

Enamel Metal Shingles--This refers to metal shingles with an enamel coating. This type

shingle is usually predrilled and it is fastened down by nailing to some type of sheathing

on strips.

Corrugated Asbestos is manufactured in sheets, which can be fastened to either wood or

metal.

Rubber roofing material- There is two types known as modified bitumen and EPDM

rubber. Modified bitumen is manufactured in several styles and may or may not have a

granular “sandpaper” type finish resembling the finish on roll roofing. The type that does

not have a granular finish can be smooth or textured and is always black in color. Standard

EPDM rubber material is smooth in texture and black in color.

Oct.2011 Revision

VI-86

Interior Finish refers to whatever products are used to finish the interior or exterior walls, and to

form inner partitions.

Unfinished means that either no product is used, or that the interior or exterior walls are

painted only, and that no partition work exists.

Wood or Ceiling Boards--In some types of structures, either plain wood boards, or narrow

"beaded ceiling" boards are used for interior finish, particularly in frame construction.

Wall Boards come in many marks or trade names, but all are made up of a composition of

materials to form boards which are mostly 4' x 8' in size. These are such as "Celotex",

plasterboards, or paper products pressed together.

Plaster, No Furring--This refers to plaster on lath in wood frame structures, or plaster

applied directly to the interior of masonry walls.

Plaster, furred means the application of plaster to various types of lath which, in turn, is

fastened to "furring strips"; these usually are of treated lumber which again are fastened to

masonry walls. This forms a moisture barrier to prevent dampness in masonry structures.

Drywall is a product of plaster with paper surfaces. It is fastened to studding or furring

strips, and requires a seal where joints occur, and only paint as a finish. It has become

popular due to ease of installation and also due to the fact that no plastering as such is

necessary.

Wood Panel--There are many grades and types of wood panel boards available, from

inexpensive plywood to solid hardwoods. Again, these are mostly in sizes of 4' X 8', and

cut to fit. Some are pre-finished and some require finish.

Enamel Metal refers to metal sheets with enamel coating. It is used over some interior wall

surfaces or fastened directly to metal framing.

Floors include both the sub-flooring (if any) and the finished floor or wearing surfaces.

None means no floor, or dirt floor.

Plywood is a single layer of light wood, usually of small thickness, laid on floor joists.

Single Pine is a single layer of pine laid on floor joists, or pine on “sleepers” on concrete.

Pine refers to softwood.

Concrete means either plain or reinforced poured or tamped fill or on the ground.

Reinforced Concrete has steel reinforcing, either bars or mesh.

Oct2011 Revision

VI-87

Concrete, Asphalt Tile—This applies to the various composition tiles that are laid over

concrete floors, and includes the concrete.

Concrete, Terrazzo—Terrazzo is a hard, stone-filled and polished masonry, which is

applied directly over concrete, and includes the concrete.

Concrete, Stained- Concrete that has been stained and sometimes scored to give visual

effects.

Double Pine is usually a layer of pine laid over pine sub-flooring. Again, pine refers to

softwoods.

Double Hardwood is usually a layer of hard types of wood over sub-flooring.

Pre-cast Concrete applies in this case to either pre-stressed or poured concrete floors that

are suspended; not on ground or fill.

Parquet floors refers strictly to wearing surface made up of rather small pieces of hardwood

set in patterns or designs over a sub-flooring. At times this comes in made up blocks and

is laid in mastic over concrete.

Concrete, Quarry Tile refers to quarry types of tile set in grout over concrete.

Concrete, Ceramic Tile refers to ceramic or baked clay tile set in grout on concrete.

Marble refers to various expensive stones set in grout on concrete.

Slate refers to cut or random broken slat set in grout on concrete.

Heating applies to both heat and air conditioning in residential structures.

None means no heat of any kind.

Unit Heat applies to hot air, wall types of gas or oil, furnaces of gas or oil, electric unit

heaters, or any other non-forced air (see Central Heat), permanent type of system.

Central Heat refers to central heating systems with ductwork, thermostats and forced hot

air.

Central Cooling applies to a system, but not to widow types of air conditioning. These

systems have some or much ductwork.

Central Cool and Heat refers to either the reverse cycle systems, heat pumps or heating and

cooling units using the same duct work, but again, not window types of units.

Oct.2011 Revision

VI-88

ILLUSTRATIONS OF COMMERCIAL CLASSIFICATION

Class: H/B Special Use Units Possible Height Adjustment

Plumbing---Heat/Air: Add fixture and unit costs.

List paving.

VI-89

Class: H/B Special Use Units

Plumbing---Heat/Air: Add fixture and unit costs

List paving.

VI-90



VI-91

Class: H/B Special Use Units – Franchise Restaurant


List paving.

VI-92



VI-93

Class: H/C Special Use Units


List paving.

VI-94

Class: H/C- Special Use Units Canopy: Decimal Area


Front & Interior units

List paving.

VI-95



List Paving.

VI-96



VI-97



VI-98



List Paving.

VI-99



List paving.

VI-100



List Paving.

VI-101



VI-102



VI-103



VI-104



VI-105



VI-106



VI-107

Class: H/C Special Use Units Possible Height Adjustment


VI-108

Bank



Add Vault

VI-109

Bank



Add Vault

VI-110

Bank

Class: H/ B Plumbing Heating and A/C

Rate H Units apply Add cost

Special Use

Add for vault.

VI-111

Bank

Class: H/B Plumbing Heating and A/C


Special Use

Add for Vault

VI-112

Convenience Store and Service Station

Class: H/ C Plumbing Heating and A/C

_____________________________________________________________________________


Add fixture cost

Price canopy, paving, islands separately.

VI-113

Service Station with Booth

Plumbing Heating and A/C

______________________________________________________________________________

Units apply Add cost

Add fixture cost

Price canopy from Schedule on page VI-10

Booth - Classify and calculate using High Table.

VI-114

Convenience Store, Fast Food, and Service Station

Class: H/C+ Plumbing Heating and A/C

______________________________________________________________________________

Units apply

Add cost

Special Use Add fixture cost

Price Excellent Canopy from Schedule on page VI-10

List Conc. Paving

Front & Interior units

VI-115

Service Station Booths

(Classify and calculate using High Table)

VI-116

Convenience Store and Service Station

Class: H/C Plumbing Heating and A/C

______________________________________________________________________________

Units apply Add cost


Price canopy as a separate improvement from schedule on page VI-10

Price concrete paving.

VI-117

Convenience Store, Fast Food, and Service Station

Class: H/C

Add: Front and interior, Partitions

Special use units


List canopy as a separate improvement

List paving.

VI-118

Car Wash

Plumbing

______________________________________________________________________________

Add fixture cost

See car wash schedule on page VI-38

.

VI-119

Car Wash Manual & Automatic

See car wash schedule page VI-38.

VI-120

Car Wash

Drive Thru

See schedule on VI-38.

VI-121

Dollar General L/D+

Metal Buildings

See page VI-51

VI-122

Metal Buildings: See Schedule on Page VI-51

Metal Buildings: See Schedule on Page VI-51.

VI-123

Metal Building Schedule page 51

Aircraft Hanger

VI-124

Metal Buildings: See Schedule on Page VI-51.

VI-125

Class C Adjust Plumbing Heating and A/C

______________________________________________________________________________

Rate L Front & Interior Units apply Add cost

*Special Use Add fixture cost

*If it includes additional construction cost for businesses such as banks, restaurants, etc

*List asphalt paving.

Fencing

VI-126

Class D+ Adjust Plumbing Heating and A/C

______________________________________________________________________________

Rate L Height Units apply Add cost

Front & Interior Add fixture cost

Partitions

VI-127


______________________________________________________________________________

Rate L Height Units apply Add cost

*Special Use Front & Interior Add fixture cost

Partitions

*If it includes additional construction cost for businesses such as banks, restaurants, etc

VI-128

Strip Shopping Center


_____________________________________________________________________________

Rate L Front & Interior Units apply Add cost

Special Use Partitions Add fixture cost

VI-129

Class: C Adjust Plumbing Heating and A/C

___________________________________________________________________________


Add fixture cost

List concrete or asphalt paving

List swimming pool

VI-130

Class: B Adjust Plumbing Heating and A/C

Rate H Framing Units apply Add cost

Add fixture cost

List elevators

List swimming pool and paving.

VI-131

Medical Office

Class: C Plumbing Heating and A/C

_____________________________________________________________________________



VI-132

Quick Lube

Plumbing Heating and A/C

Add fixture cost Add cost

Rate L

See Quick Lube Schedule for pits. Page VI-50

Add for overhead doors

List conc. paving

VI-133

Townhouse apartments--Class H/C (above), H/D+ (below)

Add apartment equivalents

One bath is standard with units

VI-134

Apartments--Class H/C

Add apartment equivalents

One bath is standard with units

Apartments Class C-

VI-135

Apartments Class D+

Apartment Class D

VI-136

Parking Garage

Price from schedule on page VI-34

VI-137

chapter vi commercial appraisal - mississippi · chapter index 1. commercial property record card...

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