New Jersey Administrative Code
Title 18 - TREASURY - TAXATION
Chapter 23 - RAILROAD PROPERTY TAX
Subchapter 5 - ASSESSMENT AND DISPOSITION OF THE RAILROAD PROPERTY AND FRANCHISE TAXES
Section 18:23-5.1 - Classification of railroad property
Universal Citation: NJ Admin Code 18:23-5.1
Current through Register Vol. 56, No. 18, September 16, 2024
(a) On or before November 1 of the pre-tax year all real property used for railroad purposes in this State is classified for tax purposes as Class I, Class II, or Class III railroad property.
1. Class I real property consists of the
length of main stem (roadbed not exceeding 100 feet in width) of each railroad in
this State;
2. Class II real property
consists of all real property used for railroad purposes in each taxing district
which is not classified as Class I or Class III;
3. Class III real property consists of facilities
used in passenger service in this State.
(b) In the event any railroad property is used for both freight and passenger service, such property is apportioned between Class II and Class III property in the manner provided in this subchapter.
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