South Dakota Codified Laws
Chapter 28 - Taxation Of Railroad Operating Property
Section 10-28-12 - Unit valuation of railroad operating property.

10-28-12. Unit valuation of railroad operating property.
The secretary of revenue shall, in determining the fair market value of the property, value all the property of any railroad company as a unit, but shall make due allowance for any nonoperating property.

Source: SDC 1939, §57.1305; SL 1997, ch 61, §1; SL 2003, ch 272 (Ex. Ord. 03-1), §82; SL 2011, ch 1 (Ex. Ord. 11-1), §161, eff. Apr. 12, 2011.

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Structure South Dakota Codified Laws

South Dakota Codified Laws

Title 10 - Taxation

Chapter 28 - Taxation Of Railroad Operating Property

Section 10-28-1 - Secretary to assess operating property.

Section 10-28-2 - Assets included in operating property.

Section 10-28-3 - Annual statement required of railroad company--Date of filing--Contents.

Section 10-28-4 - Annual statement of railroad property occupied by warehousemen and others.

Section 10-28-5 - Addition to assessment value on failure of railroad to make statements.

Section 10-28-6 - Annual list of warehousemen and other occupants of railroad property--Contents.

Section 10-28-7 - Time of annual assessment of operating property--Separation of main lines, branches and sidetracks.

Section 10-28-8 - Capital stock and other property included--Nonoperating property excepted.

Section 10-28-9 - Allocation of valuation for railroad operating partly without state.

Section 10-28-10 - Local assessment of nonoperating property permitted.

Section 10-28-11 - Nonoperating property defined--Rules.

Section 10-28-12 - Unit valuation of railroad operating property.

Section 10-28-13 - Cost approach, market approach and income approach considered in determination of value of railroad company property.

Section 10-28-14 - Department of Transportation to assist in valuation.

Section 10-28-15 - Notice to railroad of assessment--Hearing--Notice of equalized assessment.

Section 10-28-16 - Notice to county auditors of railroad mileage and assessments--Distribution.

Section 10-28-18 - Determination by county commissioners of railroad valuations in taxing districts--Entry in assessment records--Notice to taxing districts.

Section 10-28-19 - Railroad map filed with county auditor--Exemption of operating property from local assessment.

Section 10-28-20 - Notice to county auditor of deeds to railroads--Entry on railroad map.

Section 10-28-21 - Application of tax levies against railroad property--Extension in railroad tax book.

Section 10-28-21.2 - Tax credit for expenses of a capital nature incurred by public railroad or railway corporation--Application of credit.

Section 10-28-21.3 - Expenses of a capital nature defined.

Section 10-28-21.4 - Capital improvement plan required to claim tax credit.

Section 10-28-21.5 - Notification of completion of capital project--Inspection and audit--Eligibility for credit--Administrative hearing.

Section 10-28-21.6 - Promulgation of rules on capital expense tax credits.

Section 10-28-22 - Duplicate railroad tax book delivered to county treasurer--Collection and distribution of railroad taxes.

Section 10-28-23 - Collection of delinquent railroad taxes.

Section 10-28-24 - Exemption of railroad companies operating over state-owned rail lines.

Section 10-28-25 - Promulgation of rules concerning leased property.