Section 50IAC4.2-15-7. Assessment of marketing equipment of refined petroleum products

   (a) Under 50 IAC 4.2-7-1, the following procedures will be utilized by the department to determine the prices to be used for the assessment of certain marketing equipment of petroleum products.

  (b) Under 50 IAC 4.2-7-2, the department has determined in order to provide for a uniform method of assessment as set out in 50 IAC 4.2-4-5 and to obtain equalization in the assessment of petroleum industry marketing facilities, the department establishes the useful life of all tangible personal property used in the marketing of petroleum products as being twelve (12) years with all such property being segregated into Pool No. 3 for Indiana property tax purposes. (Department of Local Government Finance; 50 IAC 4.2-15-7; filed Dec 7, 1988, 9:35 a.m.: 12 IR 895, eff Mar 1, 1989; reinstated by IC 6-1.1-3-22, eff Jul 1, 2003; filed Feb 26, 2010, 2:43 p.m.: 20100324-IR-050090576FRA)