Indiana Code - Taxation - Title 6, Section 6-1.1-8-14

Street railway companies

Sec. 14. (a) The fixed property of a street railway company
consists of:
(1) real property which is not part of the company's tracks or
rights-of-way; and
(2) tangible personal property which is located within or on the
real property described in subdivision (1).
(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.
(Formerly: Acts 1975, P.L.47, SEC.1.) As amended by Acts 1977,
P.L.2, SEC.14; P.L.90-2002, SEC.65.

Last modified: May 28, 2006