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Section 11292 Of Article 3. Valuations From California Revenue And Taxation Code >> Division 2. >> Part 6. >> Chapter 2. >> Article 3.
11292
. In making the assessment, the board shall value the cars by
class based on the owner's acquisition cost, less depreciation. The
depreciation shall be computed for these enumerated Association of
American Railroad's, or successor organization's, car type groups on
a straight-line basis with the indicated depreciable life schedules
with a maximum of 80 percent depreciation allowed.
(a) Stack cars (alpha S): 22 years minus the age at acquisition.
(b) Lightweight, low profile intermodal cars (alpha Q): 22 years minus the age at acquisition.
(c) Flat cars (alpha F): 22 years minus the age at acquisition.
(d) Conventional intermodal cars (alpha P): 22 years minus the age at acquisition.
(e) Vehicular flat cars (alpha V): 22 years minus the age at acquisition.
(f) All other cars (all other alphas): 25 years minus the age at acquisition.
(g) Betterments: the remaining depreciable life of the car to which the betterment is applied. Acquisition cost is defined as the expenditures required to be capitalized by generally accepted accounting principles.
(a) Stack cars (alpha S): 22 years minus the age at acquisition.
(b) Lightweight, low profile intermodal cars (alpha Q): 22 years minus the age at acquisition.
(c) Flat cars (alpha F): 22 years minus the age at acquisition.
(d) Conventional intermodal cars (alpha P): 22 years minus the age at acquisition.
(e) Vehicular flat cars (alpha V): 22 years minus the age at acquisition.
(f) All other cars (all other alphas): 25 years minus the age at acquisition.
(g) Betterments: the remaining depreciable life of the car to which the betterment is applied. Acquisition cost is defined as the expenditures required to be capitalized by generally accepted accounting principles.
