Summary of Change Impact Aid Section 8002 Table 1

Summary of Change: Applications for Assistance Section 8002 Impact Aid Program

 200910-1810-001

New regulations for the Section 8002 application became effective January, 2009.  The Department of Education, in reviewing applications to ensure compliance with the new regulations, found many problems with the estimated assessed values of Federal property as reported on Table 1.

To assist the applicants in completing Table 1 properly, the Department of Education devised a new worksheet to go with the existing Table 1 of the application.  The worksheet structures the applicant’s work process in selecting comparable properties from the appropriate use categories.  The selection of these properties and calculation of the per acre value for each category of use forms the basis for the estimated value of the Federal property, which is reported on Table 1.

An additional ½ hour of time is estimated for each application response to account for the additional work of completing the new worksheet.  The application process is not changed, but the new worksheet lays it out explicitly so that applicants will be less likely to err in completing Table 1.