Title 48, Chapter 5, Section 4
( 48-5-4)
Except as prohibited by the Constitution and laws of the United
States, all property owned or possessed in this state by a
corporation organized under the laws of the United States or owned
or possessed by an agency of the United States engaged in this state
in proprietary, as distinguished from governmental, activities shall
be subject to ad valorem taxation in this state at the same rate and
in the same manner as the property of private corporations owning
property in this state and engaged in similar businesses. All laws
relating to ad valorem taxation of private corporations shall apply
to ad valorem taxation of agencies of the United States and
corporations organized under the laws of the United States. |