Sec. 8. (a) The fixed property of an express company consists of real property. The remainder of the express company’s property is indefinite-situs distributable property.

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

  • express company: means a company which is engaged in the business of transporting property by land, air, or water, and which does not itself operate the vehicles (except for terminal pickup and delivery vehicles) of transportation. See Indiana Code 6-1.1-8-2
  • property: includes both tangible and intangible property. See Indiana Code 6-1.1-8-2
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
     (b) The department of local government finance shall apportion and distribute the assessed valuation of an express company’s indefinite-situs distributable property among the taxing districts in which the fixed property of the company is located. 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 express company’s indefinite-situs distributable property, multiplied by (2) a fraction, the numerator of which is the value of the company’s fixed property which is located in the taxing district, and the denominator of which is the value of the company’s fixed property which is located in this state.

[Pre-1975 Property Tax Recodification Citation: 6-1-44-11(4).]

Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.90-2002, SEC.60; P.L.182-2009(ss), SEC.94.

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