The property factor is a fraction, the numerator of which is the average value of the taxpayer's real and tangible personal property owned or rented and used in this state during the tax period and the denominator of which is the average value of all the taxpayer's real and tangible personal property owned or rented and used during the tax period. History: 1953 Comp., § 72-15A-26, enacted by Laws 1965, ch. 203, § 11. Effective dates. — Laws 1965, ch. 203, § 22 made Laws 1965, ch. 203, § 11 effective January 1, 1966. Am. Jur. 2d, A.L.R. and C.J.S. references. — 71 Am. Jur. 2d State and Local Taxation §§ 190, 202, 208, 218, 220, 658 to 665. Situs as between different states or countries of tangible chattels for purposes of property taxation, 110 A.L.R. 707. 84 C.J.S. Taxation §§ 92 to 94, 112 to 115, 153 to 157, 172 to 173, 397 to 401, 416.
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