Pulaski Highway Express, Inc. v. Dunn

OPINION

HARBISON, Justice.

In this case the issue is presented as to whether the Public Service Commission may properly include the value of leased vehicles in making the annual ad valorem tax assessment of motor carriers operating in the state. Only the assessment for the tax year 1972 is involved, because the pertinent statutes were revised in 1973, so as to provide in unmistakable terms that leased vehicles should be considered utility proper*637ty and should be taxed ad valorem to the lessee of the equipment. T.C.A. §§ 67— 601(7), 67-602(5), 67-901 (1974 Supp.).

Prior to the 1973 legislation,…