701—106.9(434) Exclusions.
	106.9(1) From the estimate of value pursuant to rule 701—106.8(434), there shall be a deduction for pollution control property provided in Iowa Code section 427.1(32).
	106.9(2) From the estimate of value pursuant to rule 701—106.8(434), there shall be a deduction for interstate bridges and other locally assessed property. Locally assessed property shall mean all property subject to an assessing authority pursuant to Iowa Code section 441.54. The respondent shall supply a schedule providing the actual value as determined by the local assessor on or nearest to the current assessment date.
	106.9(3) From the estimate of value determined under rule 701—106.8(434), the value of Iowa personal property shall be deducted pursuant to Burlington Northern Railroad Company vs.	Gerald D. Bair, Director of the Department of Revenue of Iowa—United States District Court Order-Civil No.	83-100-A. The computation for the percentage of personal property shall be equal to the ratio of the net book value of personal property divided by the net book value of the total property.
	106.9(4) From the estimate of value determined under rule 701—106.7(434), the intangible value shall be deducted pursuant to Burlington Northern Railroad Company vs.	Gerald D. Bair, Director of the Department of Revenue of Iowa—United States District Court Order No: 4-90CV-60406. The deduction shall be equal to 6.6 percent of the correlated system value for the stock and debt indicator and the income indicator.
This rule is intended to implement Iowa Code sections 427.1(32), 434.15 and 434.20.
[Editorial change: IAC Supplement 11/2/22; Editorial change: IAC Supplement 11/2/22; Editorial change: IAC Supplement 10/18/23]