Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2016
Property Tax Annotations
670.0000 PRIVATE RAILROAD CAR TAX
670.0005 Depreciation of Car Betterments. Subdivision (g) of Revenue and Taxation Code section 11292 provides that betterments shall be valued on the basis of the remaining depreciable life of the car to which the betterment is applied. In applying this standard, the betterments should be included in the acquisition cost of the car regardless of when the betterment is placed on the car. In other words, the accumulated depreciation to be assigned to a betterment is that based on the age and total depreciable life of the railcar to which the betterment has been applied. C 3/14/1996.