10-28-1. Secretary to assess operating property. All property, real and personal, belonging to any railroad company in this state actually and necessarily used in the operation of its line or lines of railway in this state shall be considered as “operating property,” and shall be assessed for the purposes of taxation by the secretary of […]
10-28-10. Local assessment of nonoperating property permitted. All property of such railroad company, both real and personal, not actually and necessarily used in the operation of its line or lines of railway in this state shall be considered as “nonoperating property,” and nothing in this chapter shall be so construed as to prevent the local […]
10-28-11. Nonoperating property defined–Rules. The term “nonoperating property” means all land and improvements on such land, not situated on the right-of-way or station grounds of the railroad and not used as “operating property” within the meaning of the definition set out in §§10-28-1 and 10-28-2. The secretary of revenue may promulgate rules pursuant to chapter […]
10-28-12. Unit valuation of railroad operating property. The secretary of revenue shall, in determining the fair market value of the property, value all the property of any railroad company as a unit, but shall make due allowance for any nonoperating property. Source: SDC 1939, §57.1305; SL 1997, ch 61, §1; SL 2003, ch 272 (Ex. […]
10-28-13. Cost approach, market approach and income approach considered in determination of value of railroad company property. For the purpose of determining the fair market value of the property of any railroad company, the secretary of revenue shall take into consideration the cost approach, the market approach, and the income approach to appraisal. In the […]
10-28-14. Department of Transportation to assist in valuation. The secretary of revenue, as an aid to this determination of value as provided by this chapter, may call upon the Department of Transportation for any information and facts which the department may have concerning the property of any railroad company in this state. The Department of […]
10-28-15. Notice to railroad of assessment–Hearing–Notice of equalized assessment. The Department of Revenue shall give notice by registered or certified mail to the officer of any railroad company making a return of property, of the assessment and equalization made by it, and such notice shall fix a time not less than ten days after the […]
10-28-16. Notice to county auditors of railroad mileage and assessments–Distribution. The Department of Revenue shall, on or before the fourth Monday in August, each year, transmit to the county auditor of each county through which any railroad runs, a statement showing the length of main track, of main line or lines, and the branches thereof […]
10-28-18. Determination by county commissioners of railroad valuations in taxing districts–Entry in assessment records–Notice to taxing districts. It shall be the duty of the county auditor, after receiving such statement from the Department of Revenue, to turn such statement over to the board of county commissioners, who, at its first meeting after receiving such statement, […]
10-28-19. Railroad map filed with county auditor–Exemption of operating property from local assessment. Every railroad company shall keep on file, with the county auditor of each county through or into which its line or lines of railroad run, a map showing correctly the right-of-way, length of sidetracks outside the corporate limits of municipalities, depot grounds, […]
10-28-2. Assets included in operating property. The term “operating property” shall mean and include all tracks and right-of-way, station grounds, all structures, and improvements on such right-of-way or station grounds, all rights and franchises, all rolling stock and car equipment, and all other property, real or personal, tangible or intangible, connected with or used in […]
10-28-20. Notice to county auditor of deeds to railroads–Entry on railroad map. It shall be the duty of the register of deeds of the county to notify the county auditor of any deed to any railroad company for the right-of-way, depot grounds, yard room, gravel or sand beds, or lands for snow protection, that may […]
10-28-21. Application of tax levies against railroad property–Extension in railroad tax book. All railroad property assessed by the Department of Revenue shall be taxable upon such assessment at the same rates and for the same purposes as the property of individuals within such counties, municipalities, civil townships, and lesser taxing districts. The proper officer of […]
10-28-21.2. Tax credit for expenses of a capital nature incurred by public railroad or railway corporation–Application of credit. Any publicly operated railroad or railway corporation operating over rail lines owned by the publicly operated railroad or railway corporation located within this state may claim a credit against the tax levied on the rail lines for […]
10-28-21.3. Expenses of a capital nature defined. Expenses of a capital nature contained in §10-28-21.2 are as defined in CFR 49 Parts 1200 through 1219 Subpart A Uniform Systems of Accounts for Railroad Companies, as amended through January 1, 2014, for Class 1 railroads or as defined in accordance with generally accepted accounting principles for […]
10-28-21.4. Capital improvement plan required to claim tax credit. Each year the railroad or railroad corporation requesting tax credits shall prepare a capital improvement plan detailing the proposed mainline and secondary line capital improvement projects including the project scope, estimated value, approximate scheduling of the projects, and the current category of the line on the […]
10-28-21.5. Notification of completion of capital project–Inspection and audit–Eligibility for credit–Administrative hearing. The railroad shall annually notify the Department of Transportation of completion of any capital project. However, if the cost of the capital project exceeds three hundred thousand dollars, the railroad shall notify the department immediately upon completion. The department may conduct a verification […]
10-28-21.6. Promulgation of rules on capital expense tax credits. The State Railroad Board shall, in accordance with chapter 1-26, promulgate rules establishing the form upon which a railroad shall submit verification information for capital expenses being claimed as tax credits authorized by §10-28-21.2, when the information is to be submitted, and the manner in which […]
10-28-22. Duplicate railroad tax book delivered to county treasurer–Collection and distribution of railroad taxes. The county auditor shall make and deliver a duplicate of such railroad tax book to the county treasurer, and the county treasurer shall be charged with the collection of such railroad taxes; and the amount due each municipality, civil township, or […]
10-28-23. Collection of delinquent railroad taxes. All laws relating to the enforcement of the payment of delinquent taxes shall be applicable to all taxes levied under the provisions of this chapter, and whenever any taxes levied under the provisions of this chapter shall become delinquent, the county treasurer having control of such delinquent taxes may […]
