Express companies
Sec. 8. (a) The fixed property of an express company consists of
real property and tangible personal property which has a definite
situs. The remainder of the express company's property is
indefinite-situs distributable property.
(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.
(Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.90-2002,
SEC.60.
Last modified: May 28, 2006