{"law_id":"766351","section_number":"58.1-2656","catch_line":"Valuation of sidetracks, double tracks, etc","history":"Code 1950, \u00a7 58-532; 1984, c. 675; 1993, c. 22.","order_by":null,"metadata":{"court_decisions":{"0":{"name":"CSX Transp., Inc. v. Forst","case_number":"Civ. A. Nos. 91-CV-488, 91-CV-584, 91-CV-650 and 92-CV-722","citation":"808 F. Supp. 517","date":"1992-12-10","url":"https:\/\/www.courtlistener.com\/opinion\/1478598\/csx-transp-inc-v-forst\/","abstract":" .\u202f.\u202f. structure were achieved pursuant to Va.Code \u00a7 58.1 \u0097 2656, which provides that such assessments .\u202f.\u202f. ","court_html":"District Court, E.D. Virginia"}}},"court_decisions":{"0":{"name":"CSX Transp., Inc. v. Forst","case_number":"Civ. A. Nos. 91-CV-488, 91-CV-584, 91-CV-650 and 92-CV-722","citation":"808 F. Supp. 517","date":"1992-12-10","url":"https:\/\/www.courtlistener.com\/opinion\/1478598\/csx-transp-inc-v-forst\/","abstract":" .\u202f.\u202f. structure were achieved pursuant to Va.Code \u00a7 58.1 \u0097 2656, which provides that such assessments .\u202f.\u202f. ","court_html":"District Court, E.D. Virginia"}},"official_url":"http:\/\/law.lis.virginia.gov\/vacode\/58.1-2656\/","refers_to":[{"id":"782707","section_number":"58.1-2655","catch_line":"Assessment by Department and Commission","url":"\/58.1-2655\/"}],"url":"\/58.1-2656\/","token":"58.1\/II\/26\/5\/58.1-2656","structure":{"1":{"id":"1405","name":"Rolling Stock Tax On Railroads, Freight Car Companies And Motor Vehicle Carriers And Property Valuation Of Railroads","identifier":"5","label":"article","url":"\/58.1\/II\/26\/5\/"},"2":{"id":"1401","name":"Taxation Of Public Service Corporations","identifier":"26","label":"chapter","url":"\/58.1\/II\/26\/"},"3":{"id":"107","name":"Taxes Administered By Other Agencies","identifier":"II","label":"subtitle","url":"\/58.1\/II\/"},"4":{"id":"1","name":"Taxation","identifier":"58.1","label":"title","url":"\/58.1\/"}},"referred_to_by":[{"id":"766351","section_number":"58.1-2656","catch_line":"Valuation of sidetracks, double tracks, etc","url":"\/58.1-2656\/"}],"edition_id":"11","section_id":"766351","structure_id":"1405","full_text":"In making report of and assessment of the property included in the class described in \u00a7 58.1-2655, there shall be found for each railroad, for its main line or lines and for each branch line, for single and, where existing, double, triple and quadruple track and for sidetrack, the average value per mile in this Commonwealth of its track, track appurtenances and track structures, including cuts, fills, track surfacing, excavation, ballast, bridges, trestles and tunnels, but not including right-of-way lands or buildings or structures thereon other than track structures, or improvements required to be reported in other classes, and in any county, corporation or school district, the assessment of all property of such railroad included in the calculation of such average, as above provided, shall be the number of miles of its single, double, triple, quadruple or sidetrack therein, as the case may be, multiplied by the assessed average value thereof per mile.  The assessed value of a railroad’s track, track appurtenances and track structures in this Commonwealth shall be determined by multiplying the average of (i) the cost of such property recorded in the applicable Interstate Commerce Commission road accounts, less accumulated depreciation, and (ii) the depreciated basis of such property for federal income tax purposes by a fraction determined by dividing the railroad’s track miles within the Commonwealth by its total track miles.  Notwithstanding the foregoing sentence, in each of the tax years 1993, 1994, 1995 and 1996, the assessed value of a railroad’s track, track appurtenances, and track structure in any county, city or town shall not be less than the 1992 assessed value therein of such property, excluding retirements.","text":{"0":{"id":"2469891","text":"In making report of and assessment of the property included in the class described in \u00a7 58.1-2655, there shall be found for each railroad, for its main line or lines and for each branch line, for single and, where existing, double, triple and quadruple track and for sidetrack, the average value per mile in this Commonwealth of its track, track appurtenances and track structures, including cuts, fills, track surfacing, excavation, ballast, bridges, trestles and tunnels, but not including right-of-way lands or buildings or structures thereon other than track structures, or improvements required to be reported in other classes, and in any county, corporation or school district, the assessment of all property of such railroad included in the calculation of such average, as above provided, shall be the number of miles of its single, double, triple, quadruple or sidetrack therein, as the case may be, multiplied by the assessed average value thereof per mile.  The assessed value of a railroad’s track, track appurtenances and track structures in this Commonwealth shall be determined by multiplying the average of (i) the cost of such property recorded in the applicable Interstate Commerce Commission road accounts, less accumulated depreciation, and (ii) the depreciated basis of such property for federal income tax purposes by a fraction determined by dividing the railroad’s track miles within the Commonwealth by its total track miles.  Notwithstanding the foregoing sentence, in each of the tax years 1993, 1994, 1995 and 1996, the assessed value of a railroad’s track, track appurtenances, and track structure in any county, city or town shall not be less than the 1992 assessed value therein of such property, excluding retirements.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":{"1":{"id":"1405","name":"Rolling Stock Tax On Railroads, Freight Car Companies And Motor Vehicle Carriers And Property Valuation Of Railroads","identifier":"5","label":"article","url":"\/58.1\/II\/26\/5\/"},"2":{"id":"1401","name":"Taxation Of Public Service Corporations","identifier":"26","label":"chapter","url":"\/58.1\/II\/26\/"},"3":{"id":"107","name":"Taxes Administered By Other Agencies","identifier":"II","label":"subtitle","url":"\/58.1\/II\/"},"4":{"id":"1","name":"Taxation","identifier":"58.1","label":"title","url":"\/58.1\/"}},"structure_contents":{"0":{"id":"787477","structure_id":"1405","section_number":"58.1-2652","catch_line":"State tax on rolling stock; date of payment","url":"\/58.1-2652\/","token":"58.1\/II\/26\/5\/58.1-2652"},"1":{"id":"789937","structure_id":"1405","section_number":"58.1-2653","catch_line":"Annual report of railroads and freight car companies","url":"\/58.1-2653\/","token":"58.1\/II\/26\/5\/58.1-2653"},"2":{"id":"771314","structure_id":"1405","section_number":"58.1-2654","catch_line":"Annual report of motor vehicle carriers","url":"\/58.1-2654\/","token":"58.1\/II\/26\/5\/58.1-2654"},"3":{"id":"794791","structure_id":"1405","section_number":"58.1-2654.1","catch_line":"Penalty for failure to properly file annual reports","url":"\/58.1-2654.1\/","token":"58.1\/II\/26\/5\/58.1-2654.1"},"4":{"id":"782707","structure_id":"1405","section_number":"58.1-2655","catch_line":"Assessment by Department and Commission","url":"\/58.1-2655\/","token":"58.1\/II\/26\/5\/58.1-2655"},"5":{"id":"766351","structure_id":"1405","section_number":"58.1-2656","catch_line":"Valuation of sidetracks, double tracks, etc","url":"\/58.1-2656\/","token":"58.1\/II\/26\/5\/58.1-2656"},"6":{"id":"780932","structure_id":"1405","section_number":"58.1-2657","catch_line":"Copies of assessments to be furnished to taxpayer and local officials","url":"\/58.1-2657\/","token":"58.1\/II\/26\/5\/58.1-2657"},"7":{"id":"780315","structure_id":"1405","section_number":"58.1-2658","catch_line":"Distribution of certain taxes collected; prohibition of certain local taxes","url":"\/58.1-2658\/","token":"58.1\/II\/26\/5\/58.1-2658"},"8":{"id":"788279","structure_id":"1405","section_number":"58.1-2658.1","catch_line":"Distribution of certain taxes collected","url":"\/58.1-2658.1\/","token":"58.1\/II\/26\/5\/58.1-2658.1"},"9":{"id":"788765","structure_id":"1405","section_number":"58.1-2659","catch_line":"Article not applicable to companies exempt by federal laws","url":"\/58.1-2659\/","token":"58.1\/II\/26\/5\/58.1-2659"}},"previous_section":{"id":"782707","structure_id":"1405","section_number":"58.1-2655","catch_line":"Assessment by Department and Commission","url":"\/58.1-2655\/","token":"58.1\/II\/26\/5\/58.1-2655"},"next_section":{"id":"780932","structure_id":"1405","section_number":"58.1-2657","catch_line":"Copies of assessments to be furnished to taxpayer and local officials","url":"\/58.1-2657\/","token":"58.1\/II\/26\/5\/58.1-2657"},"references":false,"formats":{"txt":"\/58.1-2656.txt","json":"\/58.1-2656.json","xml":"\/58.1-2656.xml"},"dublin_core":{"Title":"Valuation of sidetracks, double tracks, etc","Type":"Text","Format":"text\/html","Identifier":"\u00a7 58.1-2656","Relation":"Code of Virginia"},"plain_text":"                                 CODE OF VIRGINIA\n\nVALUATION OF SIDETRACKS, DOUBLE TRACKS, ETC (\u00a7 58.1-2656)\n\nIn making report of and assessment of the property included in the class\ndescribed in \u00a7 58.1-2655, there shall be found for each railroad, for its main\nline or lines and for each branch line, for single and, where existing, double,\ntriple and quadruple track and for sidetrack, the average value per mile in this\nCommonwealth of its track, track appurtenances and track structures, including\ncuts, fills, track surfacing, excavation, ballast, bridges, trestles and\ntunnels, but not including right-of-way lands or buildings or structures thereon\nother than track structures, or improvements required to be reported in other\nclasses, and in any county, corporation or school district, the assessment of\nall property of such railroad included in the calculation of such average, as\nabove provided, shall be the number of miles of its single, double, triple,\nquadruple or sidetrack therein, as the case may be, multiplied by the assessed\naverage value thereof per mile.  The assessed value of a railroad’s track,\ntrack appurtenances and track structures in this Commonwealth shall be\ndetermined by multiplying the average of (i) the cost of such property recorded\nin the applicable Interstate Commerce Commission road accounts, less accumulated\ndepreciation, and (ii) the depreciated basis of such property for federal income\ntax purposes by a fraction determined by dividing the railroad’s track\nmiles within the Commonwealth by its total track miles.  Notwithstanding the\nforegoing sentence, in each of the tax years 1993, 1994, 1995 and 1996, the\nassessed value of a railroad’s track, track appurtenances, and track\nstructure in any county, city or town shall not be less than the 1992 assessed\nvalue therein of such property, excluding retirements.\n\nHISTORY: Code 1950, \u00a7 58-532; 1984, c. 675; 1993, c. 22."}