MEMORANDUM
TO: Assessing Officials, Vendors
FROM: Barry Wood, Assessment Division Director
RE: Supplement to 50 IAC 4.2-15-14 Present Value of Personal Property Leases
DATE: March 3, 2014
Supplement to 50 IAC 4.2-15-14 Present Value of Personal Property Leases
Pursuant to 50 IAC 4.2-15-14(6), the Department of Local Government Finance (Department) has published the following interest rates to be used in the computation of the present value of leased personal property.
“(6) If no interest rate is stated in the lease, the rate to be used in the computation shall be the prime commercial bank loan rate on the March 1 nearest to the inception of the lease. The interest rates to be used for March 1 of certain years are as follows:”
Interest Interest
Year Rate Year Rate
2014 3.25% 2007 8.25%
2013 3.25% 2006 7.50%
2012 3.25% 2005 5.50%
2011 3.25% 2004 4.00%
2010 3.25% 2003 4.25%
2009 3.25% 2002 4.75%
2008 6.00% 2001 8.50%
The Department will publish subsequent rates annually.
