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 18:23-5.4 - Identification of facilities used in passenger service
Universal Citation: NJ Admin Code 18:23-5.4
Current through Register Vol. 56, No. 18, September 16, 2024
Facilities used in passenger service (Class III) are not subject to the annual property tax levied upon railroad property. The term, Facilities used in passenger service is restricted to those facilities actually in use in connection with passenger service rendered by a railroad. Railroad property used partially for exempt passenger service (Class III) and used partially as taxable Class II railroad property, must be apportioned between the two classes before applying the tax rate to the Class II property and determining the tax payable thereon.
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