Indiana Code 6-1.1-8-7. Bus companies
(b) A bus company’s property which is not described in subsection (a) is indefinite-situs distributable property. This property includes, but is not limited to, buses and other mobile equipment. The department of local government finance shall apportion and distribute the assessed valuation of this 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 bus 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.
[Pre-1975 Property Tax Recodification Citation: 6-1-44-11(6).]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.90-2002, SEC.59; P.L.182-2009(ss), SEC.93.
Terms Used In Indiana Code 6-1.1-8-7
- bus company: means a company (other than a street railway company) which is principally engaged in the business of transporting persons for hire by bus in or through two (2) or more townships of this state. See Indiana Code 6-1.1-8-2
- property: includes both tangible and intangible property. See Indiana Code 6-1.1-8-2
- system: means all property owned or used by a public utility company or companies and operated as one (1) unit in furnishing a public utility service. See Indiana Code 6-1.1-8-2