Section 350-30-001 - PURPOSE001.01 The purpose of these regulations is to govern the method by which specifically identified centrally assessed property is valued and how that value is allocated to the State of Nebraska for property tax purposes by the Property Tax Administrator. The types of property include railroad operating property, public service entity operating property, car line company property, and air carrier flight equipment.001.02 For railroad companies Reg-30-006 and public service entities Reg-30-005, the law requires the Property Tax Administrator to value the operating property, to allocate a portion of the value to Nebraska, and to distribute the taxable value to the counties and the various political subdivisions for assessment and tax collection.001.03 For car line company property Reg-30-004 and air carrier flight equipment Reg-30-003, the law requires the Property Tax Administrator to value the property and collect the taxes. The State Treasurer is required to distribute the taxes to the counties.001.04 The Tax Commissioner is responsible for hearing administrative appeals of a company's valuation or the method of allocation. The Tax Commissioner shall act upon such appeal and issue a written order. The Tax Commissioner's order may be appealed pursuant to Neb. Rev. Stat. Section 77-5013. See Practice and Procedure Regulations, Chapter 90.001.05 The Tax Equalization and Review Commission is responsible for equalizing the valuation of centrally assessed real property. Specific procedures governing an appeal of the equalization of this property are found in the Tax Equalization and Review Commission Act.350 Neb. Admin. Code, ch. 30, § 001