Assessment of distributable property
Sec. 25. (a) Each year the department of local government finance
shall assess the distributable property which as of the assessment
date of that year is owned or used by a public utility company. The
department of local government finance shall determine the assessed
value of distributable property. The department of local government
finance shall equalize its assessments of distributable property in the
same manner that it equalizes assessments of tangible property under
IC 6-1.1-14.
(b) The department of local government finance shall distribute
the assessed valuation of definite-situs distributable property to the
taxing district in which the property is located. Except as provided
in section 35 of this chapter, the department of local government
finance shall apportion and distribute the assessed valuation of
indefinite-situs distributable property in the manner prescribed in
sections 6 through 18 of this chapter. However, this subsection does
not apply to that distributable property which is taxed under section
35 of this chapter.
(Formerly: Acts 1975, P.L.47, SEC.1.) As amended by Acts 1981,
P.L.66, SEC.5; Acts 1981, P.L.67, SEC.1; P.L.24-1986, SEC.12;
P.L.6-1997, SEC.32; P.L.90-2002, SEC.76.
Last modified: May 28, 2006