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.

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Terms Used In Indiana Code 6-1.1-8-14

  • property: includes both tangible and intangible property. See Indiana Code 6-1.1-8-2
  • street railway company: means a company which operates a passenger transportation business principally within one (1) or more municipalities regardless of whether the transportation vehicles operate on tracks, by means of electric power transmitted through wires, or by means of automotive equipment. See Indiana Code 6-1.1-8-2
  • system: means all property owned or used by a public utility company or companies and operated as one (1) unit in furnishing a public utility service. See Indiana Code 6-1.1-8-2
     (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.

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