Allocation of Centrally Assessed Water Transportation Company Property Value

# (1)

(1) The ratio the Oregon portion of the originating and terminating tons of the assessable unit for the prior year bears to the total originating and terminating tons of the unit for the prior year times 50 percent; plus

# (2)

(2) The ratio the Oregon portion of the ton-miles of the assessable unit for the prior year bears to the unit's total ton-miles for the prior year times 50 percent.

# (3)

(3) The assessable unit of mobile watercraft property is defined as the value of all mobile watercraft property owned or used by the company less:

(a) That portion of value of any watercraft that ply the high seas or between the high seas and inland ports, such portion to be based on the ratio the days in service on the high seas or between the high seas and inland ports for the prior year bears to the total days available for service for the prior year (ORS 308.256(2)(b) and 308.515(3)(a)); and

(b) That portion of value of any watercraft engaged in locally assessable activities described in ORS 308.515(3)(b), such portion to be based on the ratio the days in service engaged in locally assessable activities described in 308.515(3)(b) for the prior year bears to the total days available for service for the prior year; and

(c) The value of any vessel undergoing substantial repairs as of the assessment date as defined in OAR 150-308-0420.

# (4)

(4) For companies primarily providing passenger or excursion service, trips shall replace tons and trip-miles shall replace ton-miles in sections (1) and (2).