Section 42-14354 - Determining valuation of railroad company operating propertyA. On or before August 31 of each year the department shall determine the valuation as of January 1 of the valuation year of all operating property of railroad companies in the manner prescribed by this article. Property that a railroad company owns or leases but that is not used in operating the railroad is not considered to be operating property and shall be valued by the county assessor.B. Assessments shall: 1. Be made on the entire railroad in this state as provided by subsection A.2. Include the franchise, intangible values, right-of-way, roadbed, rolling stock, buildings and telecommunication lines and all other real and personal property used in operating the railroad.