* 499-xxxx. Local energy-related public utility mass real property value. The commissioner shall compute the local energy-related public utility mass real property value as follows:
1. The local reproduction cost of the energy-related public utility mass real property of each energy-related public utility mass real property owner in counties with a population of more than nine hundred forty thousand and less than one million two hundred thousand inhabitants according to the last decennial census is the cost of reproduction, less depreciation of that energy-related public utility mass real property.
2. In ascertaining depreciation of property under this section, consideration may be given to the age, physical condition, average service lives of assets and other relevant factors.
3. Adjustments for economic or functional obsolescence shall only be made upon application by an energy-related public utility mass real property owner. Every such application shall be submitted with the annual report required by section four hundred ninety-nine-ddddd of this title.
* NB Repealed January 1, 2023
Last modified: February 3, 2019