(35 ILCS 200/11-75)
Assessment date for railroad companies.
The Department shall
assess all property owned or used by railroad companies operating within this
State, as of January first annually, except property found by the Department to
be non-carrier real estate.
The assessment of the property of any railroad company shall be based upon
the value of property defined in Section 11-70, less the percentage of the
total value which consists of operating or non-operating personal property.
(Source: P.A. 86-173; 86-905; 86-1028; 88-455.)