1. The said property shall be valued at its actual value, and the assessments shall be made upon the taxable value of the entire railway within the state, except as otherwise provided, and the actual value so ascertained shall be assessed as provided by section 441.21, and shall include the right-of-way, roadbed, bridges, culverts, rolling stock, depots, station grounds, shops, buildings, gravel beds, and all other property, real and personal, exclusively used in the operation of such railway. In assessing said railway and its equipments, the department of revenue shall take into consideration the gross earnings per mile for the year ending January 1, preceding, and any and all other matters necessary to enable the department to make a just and equitable assessment of said railway property. If a part of any railway is without this state, then, in estimating the value of its rolling stock and movable property, the department shall take into consideration the proportion which the business of that part of the railway lying within the state bears to the business of the railway without this state.
2. Trackless trolleys, buses, cars and vehicles used for the transportation of passengers owned and operated by any urban transit company as a part of an urban transit system shall not be included in the determination of the value of an urban transit system for taxation purposes. [C73, §1319; C97, §1336; C24, 27, 31, 35, 39, §7060; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §434.15] 2003 Acts, ch 145, §286; 2015 Acts, ch 109, §34, 75; 2020 Acts, ch 1062, §94 Referred to in §434.16, 443.22 \n
Notes of Decisions
Chicago & North W. Ry. Co. v. Iowa State Tax Comm'n, 137 N.W.2d 246 (Iowa 1965).
· cites it 5× “To this figure is applied a judgment factor by the taxing authority after an overall consideration of the railroad’s Iowa operation, and the result here, $27,516,361, is taken as the actual value of the property which is then assessed at 60 percent to obtain the assessed value…”
Burlington N. R.R. v. Bair, 584 F. Supp. 1229 (S.D. Iowa 1984).
· cites it 2× “The parties have stipulated that “actual value” as used in Iowa Code § 434.15 , and “true market value,” as used in Section 306, are synonymous.”
Chicago & North W. Ry. Co. v. Prentis, 161 N.W.2d 84 (Iowa 1968).
· cites it 4× “To this figure is applied a judgment factor by the taxing authority and the final result is taken as the actual value which is then assessed at 60% to obtain the assessed value under the provisions of section 434.15, Code of Iowa. (loe. cit. 1365, 137 N.”
Chicago & Nw. Ry. Co. v. City of Webster City, 127 N.W.2d 115 (Iowa 1964).
· cites it 4× “Section 434.15, Code, 1962. Section 434.15 provides in part: “The said property shall be valued at its actual value, and the assessments shall be made upon the taxable value of the entire railway within the state, except as otherwise provided, and the taxable value shall be…”
Illinois Cent. R. Co. v. Boyer River Drainage Dist. No. 2, 84 F. Supp. 306 (N.D. Iowa 1947).
· cites it 2× “Under Section 434.15 of the 1946 Code of Iowa, it is provided in regard to railroad property as follows: “The said property shall be valued at its actual value, and the assessments shall be made upon the taxable value of the entire railway within the state, except as otherwise…”
Illinois Cent. Gulf R.R. v. Bair, 626 F. Supp. 747 (S.D. Iowa 1985).
· cites it 2× “434 and, in particular, the provisions of Iowa Code § 434.15 . 6. At all times material, the valuation of the real rail transportation property of the ICG subject to assessment by the Director was subject to the limitation contained in Iowa Code § 441.”
Annotations are extracted automatically from the opinions in the
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treatment. Dots show Syfertize treatment of the citing case itself.