Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014
 

Property Tax Annotations


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P

670.0000 PRIVATE RAILROAD CAR TAX

Annotation 670.0015

670.0015 Railcar Mark Usage. When a railcar leasing company has contracted to lease a railroad's reporting mark for flatcars for a three-year period, the flatcars are not considered part of the railroad operating property merely because they carry that railroad's Association of American Railroad (AAR) mark. If the flatcars were leased to the railroad and used in the railroad operations, however, they would be.

Assuming that the railcar leasing company is a non-railroad entity, the flatcars are assessed and taxed as private railroad cars if they are leased to a non-railroad entity. However, if the cars are leased to a railroad operating in California and used by that railroad in the operation, maintenance, construction, or reconstruction of its property, then they would be assessed and taxed as part of that railroad's operating property. C 2/26/1998.