Ad Valorem Tax Filing
For those jurisdictions having taxing authority, an annual Ad Valorem tax return will be filed. RAS will assist in the development of the fleet valuation. The mileage reported to the various jurisdictions by the railroads will be verified for accuracy using data collected with our Mileage Collection and Accounting service. Data for idle railcars can be used for potential assessment reductions. Maintenance dollars incurred in certain states can also be used as tax credits.
After the return has been filed, taxation notices will be reviewed. If there is a dispute in the amount of taxation, RAS will, at the car owner’s request and expense, protest the tax assessment. Tax assessments which are verified as accurate and complete will be forwarded to the car owner for payment, or may be paid directly by RAS.