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Tex. Tax Code § 24.34

INTERSTATE ALLOCATION

Known as the Property Tax Code

The act spans §§ 1.01 to 43.04 (594 sections).

Acts 1979, 66th Leg., p. 2267, ch. 841, Sec. 1, eff

(a) If the railroad operates in another state or country, the chief appraiser shall allocate to this state the proportion of the total market value of the rolling stock that fairly reflects its use in this state during the preceding tax year.

(b) The comptroller shall adopt rules establishing formulas for interstate allocation of the value of railroad rolling stock.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.