Board of Equalization Sets Values of Privately-Held Public Utilities-- News Release
Board of Equalization Sets Values of Privately-Held Public Utilities
Utility companies include railroad, telephone (long distance, local, and wireless), telegraph, gas and electric companies, and intercounty pipelines. Unitary values apply to properties owned or used by utility companies and considered necessary to their operation.
State-assessed properties, unlike those that are locally assessed, are not subject to the provision of Proposition 13 which limits the annual increase in assessed values of unsold properties to 2 percent. Therefore, public utilities are reappraised at their market value annually by the BOE.
The values set by the BOE are used by county governments to levy local property taxes, which help support county governments, cities, special districts, and schools.