Section 6-1.1-8-7 - Bus companies(a) The fixed property of a bus company consists of real property.(b) A bus company's property which is not described in subsection (a) is indefinite-situs distributable property. This property includes, but is not limited to, buses and other mobile equipment. The department of local government finance shall apportion and distribute the assessed valuation of this property among the taxing districts in or through which the company operates its system. The amount which the department of local government finance shall distribute to a taxing district equals the product of (1) the total assessed valuation of the bus company's indefinite-situs distributable property, multiplied by (2) a fraction, the numerator of which is the company's average daily regularly scheduled passenger vehicle route miles in the taxing district, and the denominator of which is the company's average daily regularly scheduled passenger vehicle route miles in this state.Pre-1975 Property Tax Recodification Citation: 6-1-44-11(6).
(Formerly: Acts1975 , P.L. 47, SEC.1.) As amended by P.L. 90-2002, SEC.59; P.L. 182-2009 (ss), SEC.93.