11/1/86 B

Positions in this class appraise the value of railroad, private rail car and pipeline transmission companies operating in the state for tax assessments. Assessed valuations are distributed among affected localities so that each locality may assess its fair share of the value of the companies and apply its local tax rate. This class is distinguished from the Real Estate Appraiser B by the requirement to apply the unitary method in estimating system values. The class is used only in the central office of the Department of Taxation.

Complexity of Work: Performs professional appraisal work of considerable difficulty involving determination of the value of railroad and pipeline property based on capitalization of income, analysis of stock and debt, and analysis of original cost adjusted by depreciation. Applies pertinent laws, regulations and valuation theories to the appraisal process and exercises judgment in determining appropriate methodology and final valuation. Explains applicable laws and appraisal methodology to local government officials and representatives of companies operating in the state.

Supervision Given: Supervision is typically not a factor, but guidance may be provided to less experienced appraisers in the unit.

Supervision Received: Performs work under the general direction of the Railroad and Pipeline Appraisal Manager. Is responsible for carrying out assignments independently, selecting appropriate methodology and determining valuations without assistance. Consults with supervisor when unusual circumstances are involved.

Scope: Activities affect central office operations, railroad and pipeline companies, and every locality in which railroad and pipeline companies operate within the state.

Impact of Actions: The appraised value of railroad and pipeline operating systems is the basis for taxation by local governments. Since these political subdivisions do not have the resources to verify valuations provided, error in estimation could result in unfair tax assessments or loss of revenue to the localities. Railroad appraisal is a highly controversial function and is subject to costly appeals and civil suits brought by the companies.

Personal Contacts: Frequent contacts with local government officials; state legislators; and representatives of railroad, freight car and pipeline companies to provide information relative to appraisals and taxation.

Knowledge: Considerable knowledge of the principles, practices and techniques of property appraisal; laws and practices governing appraisal and assessment of railroad and pipeline property; and corporate business practices and financial analysis.

Skills: None identified for this c1ass

Abilities: Demonstrated ability to analyze financial data from a wide variety of sources, weigh facts analytically and arrive at logical and legally supportable conclusions; communicate effectively orally and in writing; and establish and maintain effective working relationships with local government authorities and corporate officials.

QUALIFICATIONS GUIDE*

Licenses or Certification: None.

Education or Training: Graduation from college with major course work in business administration, economics or a related field.

Level and Type of Experience: Professional level experience in property and resource appraisal.

An equivalent combination of training and experience indicating possession of the preceding knowledge and abilities may substitute for this training and experience.

This class was established to describe railroad and pipeline appraisal work. Formerly, Real Estate Appraiser A's or B's were retrained to perform this work.