42-14351. Annual determination of valuation The department shall annually determine the valuation, pursuant to this article, of all operating property of railroad companies in this state in the manner provided by this article.
42-14352. Annual statement A. On or before April 1 of each year each person that owns, operates or constructs a railroad in this state, by its president, secretary, tax agent or principal accounting officer, shall file with the department a sworn statement or schedule containing: 1. A statement of the railroad’s right-of-way, track and roadbed, […]
42-14353. Failure or refusal to make annual statement; penalty A. If a railroad company fails or refuses to file the statement or schedule, the department shall assess a penalty in the amount of the lesser of: 1. One-half of one per cent of the value that is estimated by the department. 2. One hundred dollars […]
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 […]
42-14355. Computing valuation; definitions A. The department shall determine the valuation of a railroad as follows: 1. Determine the base value. 2. Compute the value change factor. 3. Compute the current year system full cash value by multiplying the base value determined under paragraph 1 of this subsection by the value change factor determined under […]
42-14356. Adjustments to achieve comparability In attempting to accurately assess ongoing business operations, income and property, adjustment may be necessary to minimize differences. The overall objective is to achieve comparability in determining appropriate stabilized income and typical property changes from prior years. Occurrences that may prompt such an adjustment: 1. Are extraordinary, unusual and infrequent […]
42-14357. Transmitting valuation to taxing jurisdictions; apportionment A. On or before November 30 of each year the department shall transmit to the county assessors of each county through or into which a railroad runs a statement showing: 1. The valuation of the property for each taxing jurisdiction as determined by a pro rata distribution of […]
42-14358. Entering statement on assessment roll A. The board of supervisors of each county shall enter the statement and description provided by the department on the county assessment roll under appropriate columns with the total value of the assessed property carried out. B. The property of railroad companies is taxable on the assessments by the […]
