Capitalization Rate Studies

We use the capitalization rate for each industry to determine the Centrally Assessed property values for companies in that industry.

Each year, we complete a Capitalization Rate Study to develop the capitalization rate of each industry. The Department will accept comments on the current year capitalization rates for 20 days after posting. We will post a response to each written comment we receive within 20 days of the close of the comment period.

2025 Capitalization Rate Study

 Sections

  1. Narrative & Appendix
  2. Airlines – Freight
  3. Airlines – Passenger
  4. Pipelines – Midstream MLPs
  5. Pipelines – Incorporated
  6. Railroads
  7. Electric Utilities
  8. Telecommunications – Large
  9. Telecommunications – Medium and Small

Comments

In accordance with 15-1-210, MCA, we reviewed all comments provided during the comment period and provided responses:

Comments Received

Department Responses

Sections

  1. Narrative & Appendix
  2. Airlines - Freight
  3. Airlines - Passenger
  4. Pipelines - Midstream MLPs
  5. Pipelines - Incorporated
  6. Railroads
  7. Electric Utilities
  8. Telecommunications - Large
  9. Telecommunications - Medium and Small

Comments

In accordance with 15-1-210, MCA, we reviewed all comments provided during the comment period and provided responses:

Comments Received

Department Responses