1. (1) The valuation and reporting schedule for centrally assessed companies is as follows:

   Annual appraisal	Odd-year appraisal	Even-year appraisal
   Railroad property	Telegraph, telephone, microwave	Electric power or transmission lines
   Net proceeds of mines (except bentonite)	Telecommunications services companies	Natural gas distribution lines
   Gross proceeds of coal mines	PSC or FERC-regulated natural gas transmission or oil transmission pipelines	Scheduled airlines
   Beneficial user of tax-exempt property	Common carrier pipelines	Centrally assessed property that is not otherwise included in 15-23-101(2)(a) or (2)(b), MCA
   	Gas gathering facilities identified in 15-6-138(5), MCA
   	Dedicated communications infrastructure defined in 15-6-162(5), MCA

2. (2) If a centrally assessed company owns assets that would otherwise require valuations in consecutive years, and the assets are components of a larger valuation unit, the appropriate reporting and valuation schedule will be based on the category that is most representative of the company's overall interstate or inter-county business. For example, if a centrally assessed company's valuation unit consists of electric utility assets (even-year) and microwave assets (odd-year), and that company's interstate business is electric power, those assets comprising its valuation unit will be valued in even-years.
3. (3) In the year a centrally assessed company is scheduled to be valued, the company must submit to the department a Centrally Assessed Property Report (Report) for the preceding year, as described in (8), and by the due date established for each company type in 15-23-103, MCA. All Reports must be submitted to the department's Centrally Assessed Property Unit only.

4. (4) In accordance with 15-23-103, MCA, and for good cause, the department may grant a centrally assessed company an extension of up to 30 days to submit a Report.

   1. (a) Report due date extension requests must:

      1. (i) be in writing;
      2. (ii) establish the company's good cause for the delay in reporting. For purposes of this rule, "good cause" means the same as "reasonable cause" provided in ARM 42.2.512;
      3. (iii) specify the amount of additional time requested up to 30 days; and
      4. (iv) be submitted to the department no less than 30 days before a Report is due.
5. (5) The department will approve or deny a Report due date extension request within 15 days of receipt and will notify the company, in writing. If the department does not respond within 15 days, the extension request is deemed approved.
6. (6) If the department determines that a company meets the criteria for central assessment, that company must discontinue its prior filing of business property reporting and must comply with the requirements of (3).
7. (7) If a company believes that the department has improperly determined that it is subject to central assessment, the company must still file a Report until the central assessment determination is changed by the department, the Montana Tax Appeal Board, or the court.

8. (8) A Report must contain the following information and/or documents on the operating properties:

   1. (a) a balance sheet for the unit;
   2. (b) a statement of income for the unit;
   3. (c) a statement of cash flow for the unit;
   4. (d) a statement of original cost and book depreciation for the unit’s property, including an estimate of current value of property leased from others;
   5. (e) a statement of outstanding preferred stock, common stock, and debt, showing both book value and market value;
   6. (f) a statement of actual revenue and expense for the Montana operation (if actual amounts are not available, a statement of allocated revenue and expense may be substituted);
   7. (g) if nonoperating properties are included in (3)(a) through (e), a statement of their original cost, book depreciation, market value, and income;
   8. (h) a statement of general description, original cost, and book depreciation of Montana properties, including description and location of property leased from others, together with name of lessor, current value or annual rental, and responsibility for the property tax (lessor or lessee);
   9. (i) if rolling stock is allocated to Montana, a statement of the method used;
   10. (j) pertinent statistical data on the company's operations within and without this state;
   11. (k) a copy of the annual report to stockholders;
   12. (l) a copy of the annual report to the federal regulatory agency if one is filed;
   13. (m) a copy of the annual report to the Montana Public Service Commission if one is filed;
   14. (n) in the case of centrally assessed railroads, all information required under ARM 42.22.106;
   15. (o) in the case of centrally assessed electric utilities, all information required under ARM 42.22.107, if applicable;
   16. (p) all other information requested by the department which will assist in valuing the properties; and
   17. (q) a signed statement of correctness.
9. (9) In addition to submitting the required Report, each centrally assessed company must update situs and mileage statements and submit them with the Report. The information on the situs and mileage statements shall be reported by county and taxing units in which they are situated. The situs statements shall contain a general description and installed cost for operating situs property.
10. (10) A company's failure to file a Report or filing an incomplete Report may result in the department appraising the company using the best information available, and will subject the company to the penalties specified in 15-23-104, MCA.

Authorizing statute(s): 15-1-201, 15-23-108, MCA

Implementing statute(s): 15-23-103, 15-23-204, 15-23-212, 15-23-301, 15-23-402, MCA

History: NEW, Eff. 12/4/76; AMD, 1980 MAR p. 1011, Eff. 3/28/80; AMD, 1982 MAR p. 705, Eff. 4/16/82; AMD, 1983 MAR p. 1930, Eff. 12/30/83; AMD, 1984 MAR p. 2041, Eff. 12/28/84; AMD, 1989 MAR p. 760, Eff. 6/16/89; AMD, 1992 MAR p. 2560, Eff. 11/26/92; AMD, 1993 MAR p. 435, Eff. 3/26/93; AMD, 2000 MAR p. 872, Eff. 3/31/00; AMD, 2010 MAR p. 2993, Eff. 12/24/10; AMD, 2015 MAR p. 2149, Eff. 12/11/15; AMD, Notice No. 2025-5, Eff. 3/29/25.