270.86 APPORTIONMENT AND EQUALIZATION OF VALUATION.
    Subdivision 1. Apportionment of value. Upon determining the fair market value of the
operating property of each railroad company, the commissioner shall apportion such value to the
respective counties and to the taxing districts therein in conformity with fair and reasonable rules
and standards to be established by the commissioner pursuant to notice and hearing, except
as provided in section 270.81. In establishing such rules and standards the commissioner may
consider (a) the physical situs of all station houses, depots, docks, wharves, and other buildings
and structures with an original cost in excess of $10,000; (b) the proportion that the length and
type of all the tracks used by the railroad in such county and taxing district bears to the length
and type of all the track used in the state; and (c) other facts as will result in a fair and equitable
apportionment of value.
    Subd. 2. Equalized valuation. After making the apportionment provided in subdivision
1, the commissioner shall determine the equalized valuation of the operating property in each
county by applying to the apportioned value an estimated current year median sales ratio for
all commercial and industrial property in that county. If the commissioner decides there are
insufficient sales to determine a median commercial-industrial sales ratio, an estimated current
year countywide median sales ratio for all property shall be applied to the apportioned value. No
equalization shall be made to the market value of the operating property if the median sales ratio
determined pursuant to this subdivision is within five percent of the assessment ratio of the
railroad operating property.
History: 1979 c 303 art 7 s 7; 1984 c 502 art 9 s 3; 1986 c 444