On or before April 15 each year, the person, company, or corporation owning, operating, or controlling any railroad or railroad service in this state shall, by a duly authorized corporate representative or official, return to the Property Tax Administrator a statement of the property of such company on January 1 preceding. The statement shall be made on forms prescribed by the Tax Commissioner. All information reported by the railroad company, not available from any other public source, and any memorandum thereof shall be confidential and available to taxing officials only. For good cause shown, the Property Tax Administrator may allow an extension of time in which to file such statement. Such extension shall not exceed fifteen days after April 15. Such statement shall include:

(1) A list of the right-of-way, track, and roadbed, giving the entire length of the main track and sidetrack in this and other states, and showing as to this state the portion in each governmental subdivision;

(2) A schedule showing: (a) The amount of capital stock authorized and the number of shares into which such capital stock is divided; (b) the amount of capital stock paid up; (c) the market value of the stock or, if of no market value, then the true value of the shares of stock; (d) the total amount of all secured and unsecured indebtedness except for current expenses of operating the road; and (e) the taxable valuation of all its operating property in this state that is locally assessed;

(3) A correct return of the value of all materials and supplies used for operating and carrying on the business of such railroad;

(4) The total gross earnings and net earnings of such corporation during the year for which the statement is made, and the total amount expended in the operation and maintenance of the property and the improvements to such property, distinguishing that expended in improvement or betterment from that expended in maintenance and operation, also the dividend last declared upon its shares and the amount thereof, and the date, number, and amount of all dividends declared upon its stock during the year preceding the date of such report; and

(5) Such other necessary information as the Property Tax Administrator may require, all of which shall be taken into consideration in ascertaining and fixing the value of such railroad and the franchise thereof.

Source:Laws 1903, c. 73, § 87, p. 414; R.S.1913, § 6377; Laws 1921, c. 133, art. VI, § 3, p. 555; C.S.1922, § 5841; C.S.1929, § 77-503; R.S.1943, § 77-603; Laws 1979, LB 105, § 3; Laws 1979, LB 103, § 2; Laws 1981, LB 179, § 4; Laws 1985, LB 268, § 5; Laws 1992, LB 719A, § 163; Laws 1995, LB 490, § 62; Laws 1997, LB 270, § 25; Laws 2004, LB 973, § 10; Laws 2007, LB334, § 31.

Annotations

A railroad is required to make a return of its property for taxation. Union P. R.R. Co. v. State Board of Equalization and Assessment, 170 Neb. 139, 101 N.W.2d 892 (1960); Chicago & N.W. Ry. Co. v. State Board of Equalization and Assessment, 170 Neb. 106, 101 N.W.2d 873 (1960); Chicago, B. & Q. R.R. Co. v. State Board of Equalization and Assessment, 170 Neb. 77, 101 N.W.2d 856 (1960).

Roundhouse, machine shops and office building are assessed by State Board of Equalization. Missouri P. R.R. Corp. v. Board of Equalization of Richardson County, 114 Neb. 84, 206 N.W. 150 (1925).

There are no settled or infallible rules for the ascertainment of the actual value of railroad property. Chicago, R. I. & P. Ry. v. State, 111 Neb. 362, 197 N.W. 114 (1923).

Water pipe line owned and operated by railroad company is assessed by State Board of Equalization. Chicago, B. & Q. R.R. Co. v. Webster County, 101 Neb. 311, 163 N.W. 316 (1917).

State Board of Equalization acts in quasi-judicial capacity, and its orders are final and cannot be attacked collaterally. State ex rel. Union P. R.R. Co. v. State Board of Equalization and Assessment, 81 Neb. 139, 115 N.W. 789 (1908).

County taxing officers cannot collect taxes on unused roadbed by distress warrant. Chicago, B. & Q. R.R. Co. v. Custer County, 69 Neb. 429, 95 N.W. 859 (1903).