All property, real and personal, belonging to any railroad company in this state actually and necessarily used in the operation of its line or lines of railway in this state shall be considered as “operating property,” and shall be assessed for the purposes of taxation by the secretary of revenue, and not otherwise.

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Source: SDC 1939, § 57.1301; SL 2003, ch 272 (Ex. Ord. 03-1), § 82; SL 2011, ch 1 (Ex. Ord. 11-1), § 161, eff. Apr. 12, 2011.