Chicago & North Western Railway Co. v. Gillis

RENTTO, Judge.

This appeal brings before us for a second time the 1963 valuation for tax purposes of the operating railroad property of the Chicago and North Western Railway Company in the State of South Dakota as made by the Commissioner of Revenue and equalized by the State Board. Our decision in the first case is reported in 83 S.D. 144, 148 N.W.2d 581. The background of this litigation is therein extensively detailed.

That valuation was determined by the Commissioner and the board by using the following formula and figures:

Railroad System:

Stock and Bonds— 5-year average $161,756,000(23%)

Capi…