The director of revenue and finance shall thereupon ascertain the value per mile of the property within the state, by dividing the total value as above ascertained, after deducting the specific properties locally assessed within the state, by the number of miles within the state, and the result shall be deemed and held to be the actual value per mile of the property of such company within the state. The assessed or taxable value shall be determined by taking that percentage of the actual value so ascertained, as is provided by section 441.21, and such valuation and assessment shall be in the same ratio as that of the property of individuals.
[S13, § 1346-e; C24, 27, 31, 35, 39, § 7084; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 436.8]
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