(1) There is an exemption from taxation for a mobile home, manufactured home, or housetrailer:
(a) that was manufactured 28 or more years prior to the current date;
(b) for which the most recent assessed value is $10,000 or less; and
(c) that is not determined to be an improvement to real property, as provided in 15-1-101.
(2) The department shall identify properties that qualify for the exemption and notify the owner or owners.
(3) An owner of three or more mobile homes, manufactured homes, or housetrailers may receive an exemption under this section for the two units with the lowest appraised values. The department shall aggregate similar names and addresses to determine ownership.