82:7 Evidence of Value. –
I. The department shall evaluate all information utilizing generally accepted appraisal methods and techniques to determine the market value of the property, real and personal, in this state, of such railroad company. When only a portion of the property and estate of any such company is located within the state, the department of revenue administration, in determining the market value thereof, shall consider its proportionate value to all the property and estate of such company.
II. In the case of railroads operating on state-owned property, the trackage and real estate owned by the state shall not be used as evidence of value.