North Carolina General Statutes Chapter 105 — Taxation
N.C. Gen. Stat. § 105-340
Certification of appraised valuations of railroad companies
# (a)
Having determined the appraised valuation of the "nondistributable" system property of a railroad company, the Department of Revenue shall assign the valuations for taxation to the local taxing units in which such property is situated in the same manner as is provided for nonsystem property in G.S. 105-339.
# (b)
Having determined the appraised valuation of the "distributable" system property of a railroad company and having allocated the valuations in accordance with G.S. 105-338(b)(1), the Department of Revenue shall then certify the amounts of those allocations to the local taxing units to which such amounts are due in accordance with the provisions of G.S. 105-341.
# (c)
Each local taxing unit receiving certified valuations in accordance with this section shall assess them at the figures certified and shall tax the assessed valuations at the rate of tax levied against other property subject to taxation therein. (1939, c. 310, s. 1620; 1971, c. 806, s. 1; 1973, c. 476, s. 193; c. 695, s. 19.)
Source: view the official text
In this article (12 sections)
- 105-333 · Definitions
- 105-334 · Duty to file report; penalty for failure to file
- 105-335 · Appraisal of property of public service companies
- 105-336 · Methods of appraising certain properties of public service…
- 105-337 · Apportionment of taxable values to this State
- 105-338 · Allocation of appraised valuation of public service property…
- 105-339 · Certification of appraised valuations of nonsystem property…
- 105-339.1 · Repealed by Session Laws 2015-6, s. 2.17(c), effective…
- 105-340 · Certification of appraised valuations of railroad companies
- 105-341 · Certification of public service company system appraised…
- 105-342 · Notice, hearing, and appeal
- 105-343 · Penalty for failure to make required reports