Section 109.02. Municipal utilities; computing tax equivalent.

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The maximum "tax equivalent" for any municipal utility (except a sewer utility) shall be determined by applying the local and school tax rates for the calendar year to the gross book value for the calendar year of plant plus materials and supplies multiplied by the assessment ratio for the municipality involved.

History: 1-2-56 ; am. (intro.), r. (1), (2), (3), Register, September, 1983, No. 333 , eff. 10-1-83.

                    
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