Arizona Laws 42-14354. Determining valuation of railroad company operating property
A. On or before August 31 of each year the department shall determine the valuation as of January 1 of the valuation year of all operating property of railroad companies in the manner prescribed by this article. Property that a railroad company owns or leases but that is not used in operating the railroad is not considered to be operating property and shall be valued by the county assessor.
Terms Used In Arizona Laws 42-14354
- Department: means the department of revenue. See Arizona Laws 42-1001
- Property: includes both real and personal property. See Arizona Laws 1-215
- Valuation: means the full cash value or limited property value that is determined for real or personal property, as applicable. See Arizona Laws 42-11001
- Valuation year: means :
(a) For real property and property valued by the department, the calendar year preceding the year in which the taxes are levied. See Arizona Laws 42-11001
B. Assessments shall:
1. Be made on the entire railroad in this state as provided by subsection A.
2. Include the franchise, intangible values, right-of-way, roadbed, rolling stock, buildings and telecommunication lines and all other real and personal property used in operating the railroad.