10-37-8. Property subject to assessment--Earnings and other evidence considered.
The property shall be valued at its fair market value, and the assessment shall be made upon the fair market value of the entire pipeline property within the state and shall include the rights-of-way, easements, the pipelines, stations, grounds, shops, buildings, pumps and all other property, real and personal, exclusively used in the operation of the pipeline. In assessing any pipeline company and its equipment, the Department of Revenue shall take into consideration the gross earnings and the net earnings for the entire property, and per mile, for the year ending December thirty-first preceding, and any and all other matters necessary to enable the department to make a just and equitable assessment of pipeline property.
Source: SL 1947, ch 413, §8; SDC Supp 1960, §57.19A08; SL 1989, ch 87, §13; SL 1997, ch 61, §9; 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 37 - Taxation Of Pipeline Companies
Section 10-37-1 - Common carriers subject to tax.
Section 10-37-2 - Pipeline company defined.
Section 10-37-3 - Annual statement required of pipeline companies--Date of filing--Contents.
Section 10-37-4 - Statement required annually as to real estate owned or used.
Section 10-37-5 - Additional information required by secretary.
Section 10-37-6 - Accounting rules prescribed by department.
Section 10-37-8 - Property subject to assessment--Earnings and other evidence considered.
Section 10-37-9.1 - Determining fair market value of pipeline company property.
Section 10-37-12 - Assessment of private pipelines--Annual statement by owner.
Section 10-37-14 - Local assessment of oil company property other than pipelines.
Section 10-37-15 - Collection of delinquent taxes--Action in circuit court.
Section 10-37-16 - Exemption of gas companies otherwise taxed.