All of the operative property within North Dakota of each air carrier transportation company which is defined as real property under section 57-02-04 must be valued for assessment purposes by the tax commissioner and the state board of equalization. For the purpose of determining the value of the operative property within North Dakota of each air transportation company, the tax commissioner and the state board of equalization shall take into consideration legally established evidences of value that enable the tax commissioner and the state board of equalization to make a just and equitable assessment.

Terms Used In North Dakota Code 57-32-01.2

  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Property: includes property, real and personal. See North Dakota Code 1-01-49
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
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