§ 58.1-2656. Valuation of sidetracks, double tracks, etc.
In making report of and assessment of the property included in the classdescribed in § 58.1-2655, there shall be found for each railroad, for itsmain line or lines and for each branch line, for single and, where existing,double, triple and quadruple track and for sidetrack, the average value permile in this Commonwealth of its track, track appurtenances and trackstructures, including cuts, fills, track surfacing, excavation, ballast,bridges, trestles and tunnels, but not including right-of-way lands orbuildings or structures thereon other than track structures, or improvementsrequired to be reported in other classes, and in any county, corporation orschool district, the assessment of all property of such railroad included inthe calculation of such average, as above provided, shall be the number ofmiles of its single, double, triple, quadruple or sidetrack therein, as thecase may be, multiplied by the assessed average value thereof per mile. Theassessed value of a railroad's track, track appurtenances and trackstructures in this Commonwealth shall be determined by multiplying theaverage of (i) the cost of such property recorded in the applicableInterstate Commerce Commission road accounts, less accumulated depreciation,and (ii) the depreciated basis of such property for federal income taxpurposes by a fraction determined by dividing the railroad's track mileswithin the Commonwealth by its total track miles. Notwithstanding theforegoing sentence, in each of the tax years 1993, 1994, 1995 and 1996, theassessed value of a railroad's track, track appurtenances, and trackstructure in any county, city or town shall not be less than the 1992assessed value therein of such property, excluding retirements.
§ 58.1-2656. Valuation of sidetracks, double tracks, etc.
In making report of and assessment of the property included in the classdescribed in § 58.1-2655, there shall be found for each railroad, for itsmain line or lines and for each branch line, for single and, where existing,double, triple and quadruple track and for sidetrack, the average value permile in this Commonwealth of its track, track appurtenances and trackstructures, including cuts, fills, track surfacing, excavation, ballast,bridges, trestles and tunnels, but not including right-of-way lands orbuildings or structures thereon other than track structures, or improvementsrequired to be reported in other classes, and in any county, corporation orschool district, the assessment of all property of such railroad included inthe calculation of such average, as above provided, shall be the number ofmiles of its single, double, triple, quadruple or sidetrack therein, as thecase may be, multiplied by the assessed average value thereof per mile. Theassessed value of a railroad's track, track appurtenances and trackstructures in this Commonwealth shall be determined by multiplying theaverage of (i) the cost of such property recorded in the applicableInterstate Commerce Commission road accounts, less accumulated depreciation,and (ii) the depreciated basis of such property for federal income taxpurposes by a fraction determined by dividing the railroad's track mileswithin the Commonwealth by its total track miles. Notwithstanding theforegoing sentence, in each of the tax years 1993, 1994, 1995 and 1996, theassessed value of a railroad's track, track appurtenances, and trackstructure in any county, city or town shall not be less than the 1992assessed value therein of such property, excluding retirements.
§ 58.1-2656. Valuation of sidetracks, double tracks, etc.
In making report of and assessment of the property included in the classdescribed in § 58.1-2655, there shall be found for each railroad, for itsmain line or lines and for each branch line, for single and, where existing,double, triple and quadruple track and for sidetrack, the average value permile in this Commonwealth of its track, track appurtenances and trackstructures, including cuts, fills, track surfacing, excavation, ballast,bridges, trestles and tunnels, but not including right-of-way lands orbuildings or structures thereon other than track structures, or improvementsrequired to be reported in other classes, and in any county, corporation orschool district, the assessment of all property of such railroad included inthe calculation of such average, as above provided, shall be the number ofmiles of its single, double, triple, quadruple or sidetrack therein, as thecase may be, multiplied by the assessed average value thereof per mile. Theassessed value of a railroad's track, track appurtenances and trackstructures in this Commonwealth shall be determined by multiplying theaverage of (i) the cost of such property recorded in the applicableInterstate Commerce Commission road accounts, less accumulated depreciation,and (ii) the depreciated basis of such property for federal income taxpurposes by a fraction determined by dividing the railroad's track mileswithin the Commonwealth by its total track miles. Notwithstanding theforegoing sentence, in each of the tax years 1993, 1994, 1995 and 1996, theassessed value of a railroad's track, track appurtenances, and trackstructure in any county, city or town shall not be less than the 1992assessed value therein of such property, excluding retirements.
