The secretary of revenue shall, in determining the fair market value of the property, value all the property of any railroad company as a unit, but shall make due allowance for any nonoperating property.
S.D. Codified Laws § 10-28-12
Unit valuation of railroad operating property
Applied in 2 court decisions — leading case Fall River County v. South Dakota Department of Revenue (1999)
Most recently applied in Fall River County v. South Dakota Department of Revenue (November 1999)
Source: SDC 1939, § 57.1305; SL 1997, ch 61, § 1; SL 2003, ch 272 (Ex
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.