2021 Indiana Code
Title 6. Taxation
Article 1.1. Property Taxes
Chapter 8. Taxation of Public Utility Companies
6-1.1-8-26. Valuation of Company Property
Sec. 26. (a) On or before June 1st of each year, the department of local government finance shall determine the just value of the property of each public utility company. Except for railcar companies, the department of local government finance shall determine that just value by first determining the approximate unit value of each public utility company. The value of the distributable property of a public utility company, other than a railcar company, equals the remainder of:
(1) the unit value of the company; minus
(2) the value of the company's fixed property.
The value of the distributable property of a railcar company equals the value of all of the company's distributable property multiplied by the adjustment factor provided under section 12 of this chapter.
(b) In order to determine the unit value of a public utility company, the department of local government finance may consider:
(1) book value;
(2) cost of replacement or reproduction, less depreciation;
(3) cost of establishing and developing the business;
(4) amount and market value or sales price of outstanding securities;
(5) valuations determined by another governmental agency or indicated by a judicial decision, including but not limited to determinations made for rate making purposes;
(6) statistics and reports prepared or filed by the company;
(7) statistics and reports prepared by another governmental agency or by a private organization if the organization is considered reliable by investors and investment dealers;
(8) earnings capitalized at a reasonable rate; and
(9) any other information which the department considers relevant.
[Pre-1975 Property Tax Recodification Citations: 6-1-44-5; 6-1-44-3 part; 6-1-44-8 part.]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by Acts 1981, P.L.66, SEC.6; Acts 1982, P.L.43, SEC.3; P.L.59-1985, SEC.5; P.L.90-2002, SEC.77; P.L.38-2021, SEC.12.
