15-7-101. Classification and appraisal -- duties of department of revenue. (1) It is the duty of the department of revenue to accomplish the following:
(a) the classification of all taxable lands;
(b) the appraisal of all taxable city and town lots;
(c) the appraisal of all taxable rural and urban improvements.
(2) A record of classifications and appraisals under subsection (1) must be kept upon the maps, plats, and forms and entered in the books of record prescribed by the department. The maps, plats, forms, and books of record are official records of the state. A certified copy of all records requested must be furnished to the department.
(3) When the department uses an appraisal method that values land and improvements as a unit, including the comparable sales method for residential condominiums or the income method for commercial property, the department shall establish a combined appraised value of land and improvements.
(4) It is the duty of the department to maintain current the classification of all taxable lands and appraisal of city and town lots and rural and urban improvements, as provided for herein.