PRP.5.3.020 Uniform Valuation Guidelines

The Commission shall develop and publish, upon the Tribal Governing Board's final approval, Uniform Property Valuation Guidelines for determining the fair market value of property subject to a duly authorized condemnation proceeding. The Commission may utilize any number of factors commonly associated with ascertaining and supporting the valuation of property, including but not limited to: the cost or selling price of the property; sales of comparable properties; replacement costs; and opinions of licensed expert appraisers. Once the Uniform Property Valuation Guidelines have been approved by the Tribal Governing Board, the Commission shall be bound to follow the Uniform Property Valuation Guidelines to fullest extent practicable in determining the Fair Mark Value of Private Property. The Uniform Property Valuation Guidelines may only be amended upon approval by the Governing Board.