76.07 Assessment.

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76.07 Assessment.

(1)Duty of department. The department on or before September 15 in each year shall, according to its best knowledge and judgment, ascertain and determine the full market value of the property of each company within the state.

(2)Relation to state valuation; description. The value of the property of each company for assessment shall be made on the same basis and for the same period of time, as near as may be, as the value of the general property of the state is ascertained and determined. The department shall prepare an assessment roll and place thereon after the name of each company assessed, the following general description of the property of such company, which the department shall deem and hold to include the entire property and franchises of the company specified and all title and interest therein: “Real estate, right-of-way, tracks, stations, terminals, appurtenances, franchises, and all other real estate and personal property of the company,” in the case of railroads, and “Real estate, right-of-way, poles, wires, conduits, cables, devices, appliances, instruments, franchises, and all other real and personal property of the company,” in the case of conservation and regulation companies, and “Real estate, appurtenances, rolling stock, equipment, franchises, and all other real estate and personal property of the company,” in the case of air carrier companies, and “Land and land rights, structures, improvements, mains, pumping and regulation equipment, services, appliances, instruments, franchises, and all other real and personal property of the company,” in the case of pipeline companies.

(3)Assessment. For the purpose of determining the full market value of the property of each company appearing on the assessment roll, the department may view and inspect the property of such company and shall consider the reports filed in compliance with s. 76.04 and the reports and returns of the company filed in the office of any officer of this state, and other evidence or information bearing upon the full market value of the property of the company assessed. In case of companies which own or use property lying partly within and partly without the state, the department shall value and assess only the property within this state, using the methods under subs.

(4g)and

(4r). When the full market value of the property of a company within this state has been determined, the amount shall be entered upon the assessment roll opposite the name of the company and shall be the assessment of the entire property of such company within this state for the levy of taxes thereon, subject to review and correction. The department shall thereupon give notice by certified mail to each company assessed of the amount of its assessment as entered upon such roll.

(4g)Determining the property in this state. The department shall determine the property in this state of railroad companies, air carrier companies, pipeline companies and telephone companies in the following manner:

(a)Railroad companies. For railroad companies:

1. Determine the ton miles of revenue freight handled in this state.

2. Divide the amount under subd. 1. by the ton miles of revenue freight handled everywhere.

3. Divide the fraction under subd. 2. by 3.

4. Determine the number of cars originated, terminated, received at connections, delivered at connections or otherwise handled in this state.

5. Divide the amount under subd. 4. by the number of cars originated, terminated, received at connections, delivered at connections or otherwise handled everywhere.

6. Divide the fraction under subd. 5. by 6.

7. Determine the tons of revenue freight on line, both originated and terminated, and at connections, both received and delivered, in this state.

8. Divide the amount under subd. 7. by the tons of revenue freight on line, both originated and terminated, and at connections, both received and delivered, everywhere.

9. Divide the fraction under subd. 8. by 6.

10. Determine the depreciated cost of real property owned or rented by the company and used in the operation of the company’s business in this state.

13. Divide the amount under subd. 10. by the depreciated cost of real property everywhere.

14. Divide the fraction under subd. 13. by 3.

15. Add the fractions under subds. 3. , 6. , 9. and 14.

16. Multiply the fraction under subd. 15. by the full market value of the company’s property everywhere.

(b)Air carrier companies. For air carrier companies: