Insofar as the other evidence and information adduced before said department does not make it appear to said department improper or unjust for it to do so, the said department shall, in fixing the true value of the entire property, tangible and intangible, of any company, corporation, association or individual embraced within the provisions of this title, consider as a factor the average net earnings, averaged over a period of five years, and also take as a basis therefor the aggregate average market value or true value for the preceding year of all its shares of stock and add thereto the average market or true value for the preceding year of its entire indebtedness secured by any mortgage, lien or other charge upon its property and assets, and the sum or sums so produced shall be treated and considered a factor in ascertaining the true value of said entire property, tangible and intangible, for purpose of ad valorem taxation. The department may likewise consider the value of the individual units and items of property and the sum of the values of such units or items.
Structure Code of Alabama
Title 40 - Revenue and Taxation.
Chapter 21 - Public Utilities.
Article 1 - General Provisions.
Section 40-21-1 - Department of Revenue to Assess All Property; Applicability of Chapter.
Section 40-21-2 - Verified Statements to Be Filed.
Section 40-21-3 - Reports of All Property Required.
Section 40-21-4 - Detailed Requirements of Reports.
Section 40-21-5 - Reports of Individuals or Associations Not Incorporated.
Section 40-21-6 - Factors to Be Considered in Determining True Value of Entire Property.
Section 40-21-7 - Reports of Railroad Companies.
Section 40-21-8 - Returns of Telegraph and Telephone Companies Generally.
Section 40-21-9 - Details of Returns of Electric Power and Telegraph and Telephone Companies.
Section 40-21-10 - Details of Statements of Water, Gas and Pipeline Companies.
Section 40-21-11 - Sleeping, Parlor, Dining and Chair Car Companies.
Section 40-21-12 - Description of Real Property, Fixtures and Other Tangible Property Within State.
Section 40-21-13 - Total Length of Railroad Lines.
Section 40-21-14 - Statement of Property Outside State.
Section 40-21-15 - Statements of Express Companies.
Section 40-21-16 - Endorsement of Receipt of Statements; Requiring Additional Information.
Section 40-21-18 - Evidence and Witnesses Before Department.
Section 40-21-20 - What Considered in Arriving at Taxable Value of Property.
Section 40-21-21 - Franchises and Intangible Property Subject to Taxation.
Section 40-21-23 - Notice of Valuation Sent by Department.
Section 40-21-25 - Determining Tax Value of Franchises and Intangibles.
Section 40-21-26 - Local Taxes on Franchises and Intangibles.
Section 40-21-27 - Apportionment of Local Taxes.
Section 40-21-28 - Entry and Collection of Local Taxes.
Section 40-21-29 - Stockholders Not Required to List Shares or Pay Ad Valorem Taxes Thereon.
Section 40-21-30 - Description of Franchises and Intangibles.
Section 40-21-32 - Procuring Information From Other Sources When Taxpayer Fails to Comply.
Section 40-21-33 - Duties of Receivers, Assignees or Trustees in Bankruptcy.
Section 40-21-34 - Report of Commission to Assessors; Entries by Assessors.