N.C. Gen. Stat. » Chapter 105
NC General Statutes

N.C. Gen. Stat. § 105-335 (2026)

Appraisal of property of public service companies

✓ current as of July 2026
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(a) Duty to Appraise. - The Department of Revenue shall appraise for taxation each public service company in accordance with subsection (b) of this section except for a public service company listed in this subsection. The Department shall appraise certain specified properties of the following public service companies in accordance with subsection (c) of this section, and all other properties of such companies shall be listed, appraised, and assessed in the manner prescribed by this Subchapter for the properties of taxpayers other than public service companies:

(1) Bus line.

(2) Motor freight carrier.

(3) Airline.

(4) Mobile telecommunications company.

(5) Tower aggregator company.

(b) Property of Public Service Companies Other Than Those Noted in Subsection (c). -

(1) System Property. - Each year, as of January 1, the Department of Revenue shall appraise at its true value the system property used by each public service company both inside and outside this State. Property leased by a public service company shall be included in appraising the value of its system property if necessary to ascertain the true value of the company's system property.

(2) Nonsystem Personal Property. - Each year as of January 1, the Department shall appraise at its true value each public service company's nonsystem tangible personal property subject to taxation in this State.

(3) Nonsystem Real Property. - In accordance with the county in which the public service company's nonsystem real property is located and the schedules set out in G.S. 105-286 and 105-287, the Department of Revenue shall appraise at its true value each public service company's nonsystem real property subject to taxation in this State.

(c) Property of Bus Line, Motor Freight Carrier, Airline, Mobile Telecommunications, and Tower Aggregator Companies. -

(1) Bus Company Rolling Stock. - Each year as of January 1, the Department shall appraise at its true value the rolling stock owned or leased by or operated under the control of each bus line that is domiciled in this State or that is regularly engaged in business in this State.

(2) Motor Freight Carrier Company Rolling Stock. - Each year as of January 1, the Department shall appraise at its true value the rolling stock owned by a motor freight carrier company or leased by a motor freight carrier company and operated by its employees that is domiciled in this State or that is regularly engaged in business in this State at a terminal owned or leased by the carrier.

(3) Flight Equipment. - Each year, as of January 1, the Department shall appraise at its true value the flight equipment owned or leased by or operated under the control of each airline company that is domiciled in the State or that is regularly engaged in business at some airport in this State.

(4) Property of Mobile Telecommunications Company. - Each year, as of January 1, the Department shall appraise at its true value the tangible personal property of a mobile telecommunications company as provided in G.S. 105-336(c) and G.S. 105-336(d).

(5) Property of Tower Aggregator Company. - Each year, as of January 1, the Department shall appraise at its true value the tangible personal property of a tower aggregator company as provided in G.S. 105-336(d).  (1939, c. 310, s. 1608; 1971, c. 806, s. 1; 1973, c. 476, s. 193; c. 783, s. 6; c. 1180; 2014-3, s. 11.1(b).)

 

Notes of Decisions
Cited in 5 cases, 1982–2001 · leading case: Matter of Appeals of S. Ry. Co., Etc., 296 S.E.2d 463 (N.C. Ct. App. 1982).
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Matter of Appeals of S. Ry. Co., Etc., 296 S.E.2d 463 (N.C. Ct. App. 1982). · cites it 3× “G.S. 105-335(a). The Department of Revenue must use special appraisal methods to determine the value of a system.”
In re the Appeal of Intermedia Commc'ns, Inc., 548 S.E.2d 562 (N.C. Ct. App. 2001). “— The appraised valuation of public service company’s property and the share thereof apportioned for taxation in this State under G.S. 105-335, 105-336, and 105-337 shall be deemed tentative figures until the provisions of this subsection (b) have been complied with.”
In re the Appeal of Duke Power Co., 347 S.E.2d 54 (N.C. Ct. App. 1986). “The department annually values the public service companies’ system property in accordance with G.S. 105-335(b)(1) and allocates the valuations of that property among the ad valorem taxing jurisdictions in this State.”
North Carolina E. Mun. Power Agency v. Wake Cnty., 398 S.E.2d 486 (N.C. Ct. App. 1990). · cites it 2× “N.C. Gen. Stat. §§ 105-335 (b), 338 and 339.”
In re Appeal of Colonial Pipeline Co., 313 S.E.2d 819 (N.C. Ct. App. 1984). · cites it 2× “See G.S. 105-335. *390 The statute specifies that a unit value appraisal shall be made by the Department of Revenue.”
— N.C. Gen. Stat. § 105-335(a) — 1 case
Matter of Appeals of S. Ry. Co., Etc., 296 S.E.2d 463 (N.C. Ct. App. 1982). “G.S. 105-335(a). The Department of Revenue must use special appraisal methods to determine the value of a system.”
— N.C. Gen. Stat. § 105-335(b)(1) — 1 case
In re the Appeal of Duke Power Co., 347 S.E.2d 54 (N.C. Ct. App. 1986). “The department annually values the public service companies’ system property in accordance with G.S. 105-335(b)(1) and allocates the valuations of that property among the ad valorem taxing jurisdictions in this State.”
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