(a) It shall be the duty of the several elected and appointed assessors of real property
to assess, value and enroll all utility realty in the same manner as is provided by
law for the assessment, valuation and enrollment of real estate. After December 31, 1998, assessors shall enroll utility realty separately from the
other real estate of a public utility, affiliate or subsidiary.
(b) Such utility realty shall be initially assessed on or before October 1, 1970,
whichever is later, and thereafter shall be assessed or reassessed at the same time
and in the same manner as real estate.
(c) Except as provided in subsection (d), a public utility may appeal from the assessment
of its utility realty, including the initial assessment, in the manner provided by
law for appeals from assessment of real estate. If appeals are pending at the time a local taxing authority prepares its report
for submission to the department as prescribed by section 1106-A, 1 the report shall include as the assessment for the utility realty appealed the amount
which the public utility has stipulated or alleged as the proper assessment.
(d) Notwithstanding any other provision of law, for taxable years 1998 and 1999, a
public utility may file an appeal from the assessment of its utility realty on or
before July 30, 1999.
(e) In an administrative or court proceeding under this section regarding the local
assessment of utility realty, a local taxing authority that has substantially prevailed
may be awarded reasonable costs incurred in relation to the administrative or court
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