Kansas RMA Eligibility Practice Exam

Public Utility tangible personal property (excluding railroads) is assessed at what rate?

30% 33% 25% 20%

Correct Answer:

33%

Explanation:

Public utility tangible personal property (excluding railroads) is assessed at one-third of its true value. This assessment ratio means only a portion of the property's market value is used as the base for tax calculations. For example, if the true value is $150,000, the assessed value would be $50,000, and taxes would be based on that $50,000 times the applicable levy. The other options (30%, 25%, 20%) do not match the established rate for this property class.

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