§ 105-336. Methods of appraising certain properties of public service companies. - North Carolina Statutes

§105‑336.  Methods of appraising certain properties of public servicecompanies.

(a)        Appraising SystemProperty of Public Service Companies Other Than Those Noted in Subsection (b).– In determining the true value of each public service company (other than onecovered by subsection (b), below) as a system the Department of Revenue shallgive consideration to the following:

(1)        The market value ofthe company's capital stock and debt, taking into account the influence of anynonsystem property.

(2)        The book value ofthe company's system property as reflected in the books of account kept underthe regulations of the appropriate federal or State regulatory agency and whatit would cost to replace or reproduce the system property, less a reasonableallowance for depreciation.

(3)        The gross receiptsand operating income of the company.

(4)        Any other factor orinformation that in the judgment of the  Department has a bearing on the truevalue of the company's system property.

(b)        Appraising RollingStock and Flight Equipment. – In determining the true value of the rollingstock of bus line and motor  freight carrier companies and the flight equipmentof airline companies, the Department of Revenue shall consider the book valueof  the property as reflected in the books of account kept under theregulations of the appropriate federal or State regulatory agency and what itwould cost to replace or reproduce the property in its existing condition. (1939,c. 310, s. 1608; 1971, c. 806, s. 1; 1973, c. 476, s. 193.)