10-35-9. Date of annual assessment of property--Information considered--Earnings, income and franchises considered--Separate valuation of property within municipalities.
The Department of Revenue shall assess the property of all light and power, heating, water, natural or artificial gas companies on the fifth day of July of each year. In making the assessment, the department shall consider all the reports, facts, and information filed, with any other information obtainable, concerning the value of the property of all light and power, heating, water, natural or artificial gas companies and may add any property omitted from the return of such companies. In making the assessment, which shall be with reference to value and ownership on January first of the year for which the assessment is made, the department shall take into consideration, among other things, the amount of gross earnings and net incomes, and the value to each light and power, heating, water, natural or artificial gas company of its franchises, rights, and privileges, granted under the laws of this state to do business in this state. In making the assessment the department shall fix a value on all the property of each company which is situated within the limits of any city or incorporated town, separately.
Source: SDC 1939, §57.1905; SL 1992, ch 60, §2; SL 1996, ch 77, §5; SL 2003, ch 272 (Ex. Ord. 03-1), §82; SL 2011, ch 1 (Ex. Ord. 11-1), §161, eff. Apr. 12, 2011.
Structure South Dakota Codified Laws
Chapter 35 - Taxation Of Electric, Heating, Water And Gas Companies
Section 10-35-1 - Companies subject to tax.
Section 10-35-1.2 - Generating property of rural electric companies subject to tax.
Section 10-35-1.3 - Definitions.
Section 10-35-1.5 - Partial exemption for power generation facility--Allocation of exemption.
Section 10-35-1.7 - Definitions.
Section 10-35-1.10 - Promulgation of rules on environmental upgrade exemption.
Section 10-35-2 - Operating property assessed by department.
Section 10-35-3 - Annual report required of companies--Date of filing.
Section 10-35-4 - Information given in annual report on property within municipalities.
Section 10-35-5 - Information given in annual report on property outside municipalities.
Section 10-35-6 - Capitalization and financial data given in annual report.
Section 10-35-7 - Additional information given in annual report.
Section 10-35-8 - Addition to assessable value for failure to file annual report.
Section 10-35-10 - Valuation of power and pipelines--Application of property tax levies.
Section 10-35-10.1 - Determining fair market value of public utility property.
Section 10-35-11 - Notice of assessment to company--Hearing.
Section 10-35-15 - Collection of delinquent taxes.
Section 10-35-16 - Definition of terms.
Section 10-35-17 - Alternative annual tax on wind farm property and solar facilities.
Section 10-35-18 - Annual tax based on nameplate capacity of wind farm or solar facility.
Section 10-35-20 - Renewable facility tax fund.
Section 10-35-21 - Distributions from renewable facility tax fund.