1. The department of revenue shall ascertain the actual value per mile of the property of each company within this state by dividing the total actual value, as ascertained under section 433.4, subsection 1, by the number of miles of line of such company within the state, and the result shall be deemed and held to be the actual value per mile of line of the property of such company within this state.

Terms Used In Iowa Code 433.5

  • Company: includes a city that owns or operates a municipal utility providing local exchange services pursuant to chapter 476. See Iowa Code 433.12
  • property: includes personal and real property. See Iowa Code 4.1
  • state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
 2. The department of revenue shall ascertain the exemption value per mile of the property of each company within this state by dividing the amount of the total exemption for that company determined under section 433.4, subsections 2 and 3, by the number of miles of line of such company within the state, and the result shall be deemed and held to be the exemption value per mile of line for that company.
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