§ 6-1.1-8-11 — Railroad companies

Indiana § 6-1.1-8-11

• Jurisdiction: Indiana
• Art. 1.1: PROPERTY TAXES
• Ch. 8: Taxation of Public Utility Companies

Text

(a) The fixed property of the railroad
company consists of real property which is not required for the
operation of the railroad. The remaining property of the railroad
company is distributable property.
(b) A railroad company's definite-situs distributable property
consists of the company's:
(1) rights-of-way and road beds;
(2) station and depot grounds;
(3) yards, yard sites, superstructures, turntable, and turnouts;
(4) tracks;
(5) telegraph poles, wires, instruments, and other appliances,
which are located on the right-of-ways; and
(6) any other buildings or fixed situs personal property used in the
operation of the railroad.
(c) A railroad company's property which is not described in
subsection (a) or (b) is indefinite-situs distributable property. This
property includes, but is not limited to, rolling stock. The department
of local government finance shall apportion and distribute the assessed
valuation of this property among the taxing districts in which the
railroad company operates its system. The amount which the
department of local government finance shall distribute to a taxing
district equals the product of (1) the total assessed valuation of the
railroad company's indefinite-situs distributable property, multiplied by
(2) a fraction, the numerator of which is the relative value of the
company's main lines, branch lines, main tracks, second main tracks,
and sidetracks, including all leased lines and tracks, which are located
in the taxing district, and the denominator of which is the relative value
of the company's main lines, branch lines, main tracks, second main
tracks, and sidetracks, including all leased lines and tracks, which are
located in this state.
[Pre-1975 Property Tax Recodification Citation:
6-1-44-11(1).]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by
P.L.90-2002, SEC.62; P.L.182-2009(ss), SEC.97.