2021 Indiana Code
Title 6. Taxation
Article 1.1. Property Taxes
Chapter 8. Taxation of Public Utility Companies
6-1.1-8-14. Street Railway Companies
Sec. 14. (a) The fixed property of a street railway company consists of real property which is not part of the company's tracks or rights-of-way.
(b) A street railway company's property which is not described in subsection (a) is distributable property. This property includes, but is not limited to:
(1) rights-of-way of the company;
(2) tangible personal property which is located on a right-of-way of the company; and
(3) rolling stock.
(c) The department of local government finance shall apportion and distribute the assessed valuation of a street railway company's indefinite-situs distributable property among the taxing districts in or through which the company operates its system. The amount which the department of local government finance shall distribute to a taxing district equals the product of (1) the total assessed valuation of the street railway company's indefinite-situs distributable property, multiplied by (2) a fraction, the numerator of which is the company's average daily regularly scheduled passenger vehicle route miles in the taxing district, and the denominator of which is the company's average daily regularly scheduled passenger vehicle route miles in this state.
[Pre-1975 Property Tax Recodification Citation: 6-1-44-11(5).]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by Acts 1977, P.L.2, SEC.14; P.L.90-2002, SEC.65; P.L.182-2009(ss), SEC.100.
