Ohio Code § 5727.12

§ 5727.12.

As used in this chapter, “ property used in railroad operations ” means property used in or determined by the tax commissioner to be held by a railroad

for use in railroad operations.  In determining the true value of all real and personal property owned or leased

by each railroad company and used in railroad operations, the commissioner shall use

the unitary method and value all of the property of the company's railroad system

as a whole, considering the factors generally used in that method, and weighing each

factor appropriately.  The true value of the property used in railroad operations shall be apportioned

to this state as provided in section 5727.14 of the Revised Code .  For tax year 2006 and each tax year thereafter, the county auditor shall value and

assess the real property owned by the company that the commissioner determines is

not used in railroad operations. All property of a railroad shall be assessed for taxation at the same percentage of

true value at which all other real property in this state is assessed, in the case

of real property, and at the percentage of true value provided under divisions (E) , (F) , and (G) of section 5711.22 of the Revised Code , in the case of personal property. A determination of the value of each item of personal property not used in railroad

operations shall be considered a separate determination with respect to which a separate

petition for reassessment may be filed under section 5727.47 of the Revised Code . Where a line of railroad is subsidized under the terms of the federal regional rail

reorganization act or the federal rail revitalization and regulatory reform act, the

real and other fixed property shall be assessed solely in the name of its owner.