42-14354. Determining valuation of railroad
company operating property
A. On or before August 31 of each year the department shall determine the valuation
as of January 1 of the valuation year of all operating property of railroad companies in
the manner prescribed by this article. Property that a railroad company owns or leases
but that is not used in operating the railroad is not considered to be operating property
and shall be valued by the county assessor.
B. Assessments shall:
1. Be made on the entire railroad in this state as provided by subsection A.
2. Include the franchise, intangible values, right-of-way, roadbed, rolling stock,
buildings and telecommunication lines and all other real and personal property used in
operating the railroad.
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