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The word "utilities" includes, but is not limited to, water and sewer companies; power companies, whether hydroelectric, steam, atomic, or other kinds for the transmission of power; electric light companies; electric cooperatives; and telecommunication companies. Utilities engaged in the transportation for hire of persons or property, such as railroads and pipelines, are included under the umbrella of "utilities" for reporting purposes. However, these utilities, engaged in the transportation for hire, are classified separately in regards to the assessment ratio that is utilized.
Water and sewer companies are required to report on the
PT-139. Telecommunication companies, power companies, railroads, and pipelines all report on the
PT-420. Cable television companies report on the
Along with specific forms mentioned above, utility companies should submit Forms
PT-429, and/or any pertinent annual reports or financial statements.
The annual property tax returns for utility companies are due on or before the last day of the fourth month after the close of the taxpayer's accounting period. For example, a taxpayer whose accounting closing date is 12/31 would have a property tax return due date of 4/30.
Utility companies have 90 days from the date of the proposed assessment to appeal that assessment. Appeal procedures will be attached to said proposed assessment.
The assessment ratio is 10.5% for water & sewer companies, power companies, telecommunication companies, and cable television companies. Utilities engaged in the transportation for hire of persons or property, such as railroads and pipeline, are assessed at a rate of 9.5%.