§ 6-1.1-8-26 — Valuation of company property

Indiana § 6-1.1-8-26

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

Text

(a) On or before June 1st of each year, the
department of local government finance shall determine the just value
of the property of each public utility company. Except for wind power
devices described in section 19.5 of this chapter and railcar companies,
the department of local government finance shall determine that just
value by first determining the approximate unit value of each public
utility company. The value of the distributable property of a public
utility company, other than a railcar company, equals the remainder of:
(1) the unit value of the company; minus
(2) the value of the company's fixed property.
The value of the distributable property of a railcar company equals the
value of all of the company's distributable property multiplied by the
adjustment factor provided under section 12 of this chapter.
(b) In order to determine the unit value of a public utility company,
the department of local government finance may consider:
(1) book value;
(2) cost of replacement or reproduction, less depreciation;
(3) cost of establishing and developing the business;
(4) amount and market value or sales price of outstanding
securities;
(5) valuations determined by another governmental agency or
indicated by a judicial decision, including but not limited to
determinations made for rate making purposes;
(6) statistics and reports prepared or filed by the company;
(7) statistics and reports prepared by another governmental
agency or by a private organization if the organization is
considered reliable by investors and investment dealers;
(8) earnings capitalized at a reasonable rate; and
(9) any other information which the department considers
relevant.
[Pre-1975 Property Tax Recodification Citations: 6-1-44-5;
6-1-44-3 part; 6-1-44-8 part.]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by Acts 1981,
P.L.66, SEC.6; Acts 1982, P.L.43, SEC.3; P.L.59-1985, SEC.5;
P.L.90-2002, SEC.77; P.L.38-2021, SEC.12; P.L.144-2023,
SEC.2.