Page 202

CODE OF COLORADO REGULATIONS 10 CCR 2505-10 8.100 Medical Services Board

202 using the most recent actual value reported by the county assessor or from the most recent property assessment notice. If the actual value is not shown on the property assessment notice, the assessed value shall be divided by the appropriate property assessment rate to obtain the market value. ii) Multiply the fair market value of the property by the “Life Estate” factor in Column 1 from the Life Estate Table at 8.100.7.H.5, in this section, that corresponds to the life estate holder’s age as of his or her last birthday. The result is the value of the life estate interest. b. If a life estate was established on property held by spouses in joint tenancy, then the age of the youngest individual shall be used to calculate the value of the life estate. 4. Determining the Value of a Remainder Interest a. The value of a remainder interest is calculated using the following method: i) Determine the fair market value of the property on which the remainder interest was established. The fair market value shall be obtained by using the most recent actual value reported by the county assessor or from the most recent property assessment notice. If the market value is not shown on the property assessment notice, the assessed value shall be divided by the appropriate property assessment rate to obtain the market value. ii) Multiply the fair market value of the property by the “Remainder” factor in Column 2 from the Life Estate Table at 8.100.7.H.5, in this section, that corresponds to the life estate holder’s age as of his or her last birthday. The result is the value of the remainder interest.