Statutes, codes, and regulations
Indiana Administrative Code
Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCEArticle 5.1 - PUBLIC UTILITY ASSESSMENT
Rule 50 IAC 5.1-1 - Definitions
Section 50 IAC 5.1-1-15 - "Locally assessed personal property" defined

50 Ind. Admin. Code 5.1-1-15

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Current through November 6, 2024
Section 50 IAC 5.1-1-15 - "Locally assessed personal property" defined

Authority: IC 6-1.1-31-1

Affected: IC 6-1.1-8-2

Sec. 15.

"Locally assessed personal property" means tangible personal property owned or used by the public utility company (except for a railroad company) that is not used as part of the company's production plant, transmission system, or distribution system. For a railroad company, "locally assessed personal property" means tangible personal property owned or used by the railroad company that is not used in the operation of the railroad. Locally assessed personal property must be reported on the appropriate form by the public utility company to the township assessor where the property is located. In general, locally assessed personal property consists of the following:

(1) Automotive and other mobile equipment (except that of a bus company or railroad company).
(2) Office furniture and fixtures.
(3) Maintenance equipment not used as part of the production, transmission, or distribution system (including general plant related items such as stores, tools, and shop and garage equipment).
(4) The inventory of materials held for use in production and property held for sale in the ordinary course of trade or business.
(5) Other tangible personal property which is not used as a part of the public utility company's production plant, transmission system, or distribution system.

50 IAC 5.1-1-15

Department of Local Government Finance; 50 IAC 5.1-1-15; filed Dec 15, 1993, 5:00 p.m.: 17 IR 952; reinstated by IC 6-1.1-8-44, eff Jul 1, 2003