All property, real and personal, belonging to or held under lease or otherwise by any light or power company, heating company, water company, or gas company as the same is defined in § 10-35-1 and used by it exclusively in the operation of its line or lines in this state, except such as is held under lease and used in such manner as to make it taxable to the owner under the general property tax laws, shall be assessed annually for taxation by the Department of Revenue, and not otherwise.
S.D. Codified Laws § 10-35-2
Operating property assessed by department
Applied in 1 court decision — leading case Montana-Dakota Utilities Co. v. South Dakota Department of Revenue (1983)
Most recently applied in Montana-Dakota Utilities Co. v. South Dakota Department of Revenue (August 1983)
Source: SDC 1939, § 57.1902; 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.