The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
42-14354 - Determining valuation of railroad company operating property
42-14354. Determining valuation of railroad company operating property
A. On or before August 31 of each year the department shall determine the valuation as of January 1 of the valuation year of all operating property of railroad companies in the manner prescribed by this article. Property that a railroad company owns or leases but that is not used in operating the railroad is not considered to be operating property and shall be valued by the county assessor.
B. Assessments shall:
1. Be made on the entire railroad in this state as provided by subsection A.
2. Include the franchise, intangible values, right-of-way, roadbed, rolling stock, buildings and telecommunication lines and all other real and personal property used in operating the railroad.