Indiana Code 6-1.1-8-26 v2. Valuation of company property
Sec. 26. (a) On or before June 1st of each year, the department of local government finance shall determine the just value of the property of each public utility company. Except for wind power devices described in section 19.5 of this chapter and railcar companies, the department of local government finance shall determine that just value by first determining the approximate unit value of each public utility company. The value of the distributable property of a public utility company, other than a railcar company, equals the remainder of:
Terms Used In Indiana Code 6-1.1-8-26 v2
- property: includes both tangible and intangible property. See Indiana Code 6-1.1-8-2
- public utility company: means a company which is subject to taxation under this chapter regardless of whether the company is operated by an individual, a partnership, an association, a corporation, a limited liability company, a fiduciary, or any other entity. See Indiana Code 6-1.1-8-2
- railcar company: means a company (other than a railroad company) which owns or operates cars for the transportation of property on railroads. See Indiana Code 6-1.1-8-2
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- unit value: means the total value of all the property owned or used by a public utility company. See Indiana Code 6-1.1-8-2
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(2) the value of the company’s fixed property.
The value of the distributable property of a railcar company equals the value of all of the company’s distributable property multiplied by the adjustment factor provided under section 12 of this chapter.
(b) In order to determine the unit value of a public utility company, the department of local government finance may consider:
(1) book value;
(2) cost of replacement or reproduction, less depreciation;
(3) cost of establishing and developing the business;
(4) amount and market value or sales price of outstanding securities;
(5) valuations determined by another governmental agency or indicated by a judicial decision, including but not limited to determinations made for rate making purposes;
(6) statistics and reports prepared or filed by the company;
(7) statistics and reports prepared by another governmental agency or by a private organization if the organization is considered reliable by investors and investment dealers;
(8) earnings capitalized at a reasonable rate; and
(9) any other information which the department considers relevant.
[Pre-1975 Property Tax Recodification Citations: 6-1-44-5; 6-1-44-3 part; 6-1-44-8 part.]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by Acts 1981, P.L.66, SEC.6; Acts 1982, P.L.43, SEC.3; P.L.59-1985, SEC.5; P.L.90-2002, SEC.77; P.L.38-2021, SEC.12; P.L.144-2023, SEC.2.