Form 1028 - Annual Property Report - 2012 Page 2
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12Schedule 1, Statement of Total Cost of Rolling Stock Owned or Leased by Year of Acquisition
(Includes Locomotives, Freight Cars, Passenger Cars, Highway and Work Equipment)
TRUE
CASH
No. of
COSTS
REPORTABLE
VALUE
YEAR OF
Units
REPORTED
LOSSES
ADDITIONS
COSTS
(office
ACQUISITION
Reported
PRIOR
(office use
(office use
NO. OF
CURRENT
use
Prior Year
YEAR
only)
only)
UNITS
YEAR
MULTIPLIER
only)
(office use)
2011
0.8900
2010
0.7600
2009
0.6700
2008
0.6000
2007
0.5400
2006
0.4900
2005
0.4500
2004
0.4200
2003
0.3800
2002
0.3600
2001
0.3300
2000
0.3100
1999
0.2900
1998
0.2800
Prior
0.2300
TOTALS
Schedule 1 Total True Cash Value
Schedule 2, Investment in Road Property Used in Transportation Service with Additions and Retirements for the
Year (Michigan Only)
Column A
Column B
Column C
Column D
Column E
Column F
Column G
Column H
Previous
Original Cost
Accumulated
Expenditures for
Depreciation
Plant Balance
Accumulated
Net Book Value
Year
of
Depreciation of
Additions During
of New Additions
at Year End
Depreciation
= F - G
Plant Balance
Retirements
Retirements at
the Calendar
During the
= A - B + D
at Year End
from last
Made During
Beginning of
Year
Calendar Year
Year’s
Calendar
Calendar Year
Column F
Year
If your prior year plant ending balance is not equivalent to the amount in Column A that was carried forward from last
year’s report, please indicate the revised amount and provide an explanation.
Revised Column A: _________
Explanation: _______
_
_
plus
Construction in Progress (CIP)
x .50
=
Adjusted CIP
_________
_________
(incurred cost to date)
equals
Schedule 2 True Cash Value
_________
Note: Inventory is exempt from assessment. Inventory does not include personal property under lease or principally intended for lease or rental
(operating), rather than sale. Property allowed a cost recovery allowance or depreciation under the Internal Revenue Code is not inventory. Motor
vehicles registered with the Michigan Secretary of State on Tax Day (December 31st) are exempt. Non-registered motor vehicles and equipment
attached to motor vehicles which is not used while the vehicle travels on the highway are assessable. Computer software, if the purchase was
evidenced by a separate invoice amount and if the software is commonly sold separately, is exempt.
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