MEMORANDUM
TO: Assessing Officials
FROM: Barry Wood, Director of Assessment
RE: 2013 Cost Schedules Errata
DATE: December 14, 2012
This memo documents the errors and corrections to the 2013 cost schedule. The page number and schedule containing each error is listed, along with a brief description of the reason for the error and the correction taken. Cost schedules not listed here have not been changed.
The PDF file that accompanies this memo contains the pages of Appendix C and Appendix G that were changed as a result of the errata. Values that have changed are highlighted. You may remove these pages in your copy of the cost schedules and replace them with the corrected pages. Each corrected page has the notation “Errata: December 14, 2012” at the bottom to identify the date of the errata.
Future releases of the 2013 cost schedules will include both the errata pages and the identifying notation. You may also download the complete Appendix C and Appendix G, including all errata, from the Department website at www.in.gov/dlgf/2489.htm.
List of Pages and Schedules with Errata
Appendix C
- Pg. 7: Garages and Carports
- Pg. 8: Additions
- Pg. 11: In Ground Swimming Pools
- Pg. 15 – 16: Barns and Sheds
- Pg. 17: Hog Confinement
- Pg. 20: Steel Grain Bins
Appendix G
- Pg. 17 – 18: Base Price Components and Adjustments
- Pg. 19: Unit Cost Adjustments
- Pg. 20: Strip Retail
- Pg. 20: Plumbing
- Pg. 27: Fencing
- Pg. 30: Elevated Steel Tanks
- Pg. 42: Fast Food Base Costs
- Pg. 43: Self-Service Cashier Booths
Description of Errors and Corrections
Appendix C
Pg. 7: Garages and Carports. The base rate for 300 SF basement garage was changed from 29 to 27. This was a typographical error.
Pg. 8: Additions. The base rate for 500 SF (1 S Frame/Slab) was changed from 335 to 235. This was a typographical error.
Pg. 11: In Ground Swimming Pools. The base rates for the following additions have changed: Underwater lighting, gas heating, electric heating, ceramic tile, and plastic tile. The original values were calculated incorrectly and did not decrease with an increase in pool area.
Pg. 15 – 16: Barns and Sheds. Some of the rates in this schedule have changed slightly. Barn and shed costs were calculated from a unit cost model that used three different types of roof truss depending on the span of the roof. Upon review, some of the models used the wrong truss. The corrected values are calculated with the correct truss assigned to each model category.
Pg. 17: Hog Confinement. The base rate for 2,000 SF pole frame/metal siding building was changed from 1.20 to 15.20. This was a typographical error.
Pg. 20: Steel Grain Bins. The value for a bin size of 24’x47’8” was changed from 17,500 to 29,900. This was a typographical error.
Appendix G
Pg. 17 – 18. Base Price Components and Adjustments. The following base rates were inadvertently omitted, and have been added to this schedule:
· GCM Basement Utility Storage: Heating Only, Add for AC
· GCM Basement Stand Alone: Heating Only, Add for AC
· GCM Upper Apartment: Partitions
· GCI First Power Generating Plant: Heating Only
· GCI Upper Power Generating Plant: Heating Only
Pg. 19: Unit Cost Adjustments. The cost for mineral fiber ceiling finish was changed from 0.66 to 2.35. The original cost was for non-acoustic mineral fiber tiles, and was not correct. In addition, the acoustical tile cost of 2.35 has been removed; there is no separate cost for acoustical tile in this schedule other than the mineral and organic fiber costs.
Pg. 20: Strip Retail. The column containing base rates for X values between 70 and 88 was added. This column was missing from the original update, with the rates for X values between 70 and 88 being listed under the column for values between 50 and 68. As a result, the X values between 50 and 68 have been changed to their calculated values.
Pg. 20: Plumbing. The residential conventional fixture cost was changed from 700 to 800. This was a typographical error.
Pg. 27: Fencing. The line and rate for “Aluminum, galvanized steel prices add” was removed. The schedule already contains rates for galvanized and aluminum fencing, so inclusion of this line was a typographical error.
Pg. 30: Elevated Steel Tanks. The “high stress hurricane and earthquake area” factor was changed from 1.16 to 1.15 for 50’, 75’, and 100’ tower heights; and from 1.22 to 1.20 for 150’ tower heights. This was a typographical error.
Pg. 42: Fast Food Base Costs. The base rates for 3,500; 4,500; 5,000; and 5,500 square feet have been corrected. These were typographical errors.
Pg. 43: Self-Service Cashier Booths. The base rate for 50 square feet was removed from the Average (Steel) schedule, and the base rates for 25 and 50 square feet were removed from the Good (Steel) schedules. These rates were used for calibration, and were not intended to be included in the final cost schedules.
Additional Errata
Additional errors, if any, will be corrected in the 2014 cost schedule update unless they will have a significant and substantial impact on real property assessment fairness and equity.
http://www.in.gov/dlgf/files/121214_-_Wood_Memo_-_Cost_Errata_memo.pdf
http://www.in.gov/dlgf/files/121214_-_Wood_Memo_-_Cost_Errata_memo.pdf
