2010 Tennessee Code
Title 67 - Taxes And Licenses
Chapter 5 - Property Taxes
Part 13 - Classification and AssessmentUtilities and Carriers
67-5-1325 - Distributable and localized property.

67-5-1325. Distributable and localized property.

(a)  The franchises, intangible property, and personal property, within the state, but having no actual situs therein, of each company to be assessed under this part, and, in addition thereto:

     (1)  The roadbed and rolling stock of railroad companies;

     (2)  Poles and lines of telephone, radio common carrier, telephone cooperative, and telegraph companies;

     (3)  Rolling stock and movable property of express, street car, freight, and private car companies;

     (4)  Motor vehicles, buses, trucks, tractors, trailers and movable property of motor bus and/or truck companies;

     (5)  The pipeline or lines of pipeline companies;

     (6)  The aircraft of commercial certificated air carrier companies assessed by the comptroller of the treasury; and

     (7)  The barges, boats, and tugs of water transportation carrier companies assessed by the comptroller of the treasury;

shall be known as distributable property.

(b)  (1)  Distributable property shall be apportioned to the counties, municipalities, and other taxing districts by the comptroller of the treasury after having considered the following factors where appropriate:

          (A)  The ratio of route and/or over-the-road miles traveled in the taxing district to the route and/or over-the-road miles traveled in the state;

          (B)  The ratio of original cost of the property in the taxing district to the original cost of the property in the state;

          (C)  The ratio of main line miles of track in the taxing district to the main line miles of track in the state;

          (D)  The ratio of traffic density in the taxing district to the traffic density in the state; and

          (E)  The ratio of ground hours and gross revenue in the taxing district to the ground hours and gross revenue in the state.

     (2)  The comptroller of the treasury may also consider any other factors that will help determine the apportionment of the distributable property to the counties, municipalities, and taxing districts.

(c)  (1)  Real, personal, and other property, operating and nonoperating, such as depots, buildings, and terminals, having an actual situs, shall be known as localized property of such companies, and shall be apportioned to the counties, municipalities, and taxing districts where located.

     (2)  The apportionment shall be based on the value of the property in the taxing district as determined by the comptroller of the treasury.

(d)  The provisions of subsections (a)-(c) shall not apply to gas, water, sewerage, power transmission, electric cooperative, and electric light companies, but, in such cases, all the property of such companies shall be deemed localized property, and shall be apportioned to the taxing district where located.

(e)  (1)  The main line miles of any railroad property shall include all side tracks, switches, bridges, trestles, ties, rails, and super-structures of every kind.

     (2)  The line of any telegraph and telephone company shall include all wires, cables, poles, and instruments.

[Acts 1973, ch. 226, § 11; T.C.A., §§ 67-925 67-928; Acts 1984, ch. 832, § 7; 1995, ch. 305, § 125.]