2010 Tennessee Code
Title 67 - Taxes And Licenses
Chapter 5 - Property Taxes
Part 13 - Classification and AssessmentUtilities and Carriers
67-5-1304 - Railroad companies.

67-5-1304. Railroad companies.

(a)  (1)  In addition to the information required by § 67-5-1303, the schedules and statements submitted by railroad companies shall include the length in miles of their entire roadbeds, switches and sidetracks, and the value of the whole, showing the number of miles and value thereof within the state, and within each county and each incorporated town thereof, the number of cars, their classes and value, the number of engines and their value, the location and description and value of all depot buildings, warehouses, and other real estate and where located, and all real and personal property belonging or leased to the company not above enumerated and its value.

     (2)  Statements shall also contain information showing the names and places of business of all private car line companies which are operating cars or having cars hauled under lease or contract, over its tracks in this state, the nature and substance of the contract of the railroad companies with each of the private car line companies and, in each instance, the compensation annually received or paid under contract with such private car companies, the number of cars of such companies used during the calendar year, and the number of miles such cars made over its system during the calendar year, both in and outside of the state.

(b)  (1)  In assessing the properties of railroad companies, the comptroller of the treasury shall require the company to itemize all of the properties within this state, tangible and intangible, distributable and localized, and set out the value of each item, including, but not limited to, the following:

          (A)  Length, location, description, and value of main line track;

          (B)  The number and description of locomotives and their value;

          (C)  The number of cars, their classes and value, and all other rolling stock;

          (D)  Description and value of franchises, intangible property, and personal property within the state;

          (E)  Description, location, quality, and value of all land not used for roadbed; and

          (F)  Description, location, and value of all depot buildings, warehouses, and other structures on real estate.

     (2)  Nothing contained in this subsection (b) shall be construed as changing or affecting the classification of distributable and localized property as otherwise defined in this code.

[Acts 1973, ch. 226, § 11; T.C.A., §§ 67-904, 67-929; Acts 1995, ch. 305, § 125.]