12D-2.001. Definitions

The following definitions shall apply to property assessed by the Department:

(1) Operating Property – All property owned by or leased to railroad and railroad terminal companies and directly related to the operation of railroads. Operating property shall be classified in one of the following categories:

(a) Real Property.

(b) Tangible Property.

(c) Intangible Personal Property.

(2) Rolling Stock – Railroad cars used for transporting persons or property over railroad lines, including, but not limited to, locomotives, engines, passenger, freight and equipment cars.

(3) Railroad – A permanent installation having a line of rails fixed to ties and laid on a roadbed and providing a track for rolling stock drawn by locomotives or propelled by self contained motors.

(4) Railroad Company – A common carrier engaged in the business of operating a railroad. For the purpose of these rules, any common carrier engaged in the business of transporting goods or passengers by rail, according to a predetermined schedule and route, shall be considered a railroad company.

(5) Railroad Terminal Company – Any company, other than a railroad company, engaged in the business of furnishing terminal facilities to railroads.

(6) Non-Operating Railroad Property – All real and personal property owned by a railroad or railroad terminal company but not being directly used in the operation of a railroad or railroad terminal company. That portion of office buildings held, but not used in the operation of a railroad, shall be considered non-operating.

(7) Terminal Property – A term applying to all railroad operating real estate, except operating track and roadbed.

(8) Unit Rule Method of Valuation – An appraising method used to value an entire operating property, considered as a whole with minimal consideration being given to the aggregation of the values of separate parts. The rights, franchises, and property essential to the continued business and purpose of the entire property being treated as one thing having but one value in use.

(9) Operating Railroad Company – Any company which has been franchised to operate as a railroad shall be considered operating for the purpose of ad valorem taxation in this state so long as it has not been granted permission by regulatory authorities (Surface Transportation Board) to abandon its charter prior to January 1 of the taxable year.

(10) Person – As defined in Section 1.01, F.S., and including any “company”. Unless otherwise specifically provided, the word “company” may be used interchangeably with the word “person”.

(11) Centrally Assessed Property – All railroad operating property subject to assessment according to Section 193.085(4)(a), F.S., and rolling stock of private car and freight line and equipment companies subject to assessment by the department under Section 193.085(4)(b), F.S.

Rulemaking Authority 193.085(4), 195.027(1), 213.06(1) FS. Law Implemented 193.085, 195.073, 196.183 FS. History–New 11-9-76, Formerly 12D-2.01, Amended 12-31-98, 11-1-12.