New York Real Property Tax Law Title 2-A - RAILROAD REAL PROPERTY OF INTRASTATE RAILROAD COMPANIES

• 489-a - Legislative Declaration.
  It is hereby found and declared that continued operation of railroads in the state and improvement of their service and facilities are essential to the...
• 489-b - Definitions.
  When used in this title, unless otherwise expressly stated: 1. "Assessing unit" means a city, town or village. 2. "Railroad company" means a corporation, joint...
• 489-c - Assessment of Real Property of Railroads.
  1. The assessor in each city, town and village and in each county having a county department of assessment shall annually assess all real property...
• 489-d - Exemption of Railroad Real Property From Taxation.
  1. Subsidized railroad real property shall be exempt from taxation. The exemption shall be granted each year only upon (a) application by the owner of...
• 489-e - Railroad Ceiling.
  For the purpose of determining the extent to which railroad real property shall be exempt under this title, a railroad ceiling for the railroad real...
• 489-f - Relationships Among Elements Used in Computation of Railroad Ceiling.
  In order to effectuate the legislative policy that the amount of exemptions from real property taxation granted to railroads should be related to their individual...
• 489-g - System Reproduction Cost.
  1. The system reproduction cost of each railroad company shall be determined by ascertaining so far as may be practicable for the property of each...
• 489-h - Average Railway Earnings.
  1. The average railway earnings shall be determined for each railroad company as follows: (a) Ascertain so far as may be practicable the revenues which...
• 489-i - Earnings Ratio.
  The commissioner shall determine the earnings ratio for each railroad company by ascertaining the ratio of its average railway earnings to its system reproduction cost,...
• 489-j - Exemption Factor.
  (a) In accordance with the policy of granting increasingly greater exemptions as the rate of earnings of a railroad company declines, the exemption factor for...
• 489-k - Unadjusted Local Reproduction Cost and Local Reproduction Cost.
  1. The commissioner shall determine the unadjusted local reproduction cost for each railroad company in each assessing unit as follows: (a) Ascertain in each assessing...
• 489-l - State Equalization Rate.
  1. In determining railroad ceilings, the commissioner shall apply the latest state equalization rate for the assessing unit, except that, if a special equalization rate...
• 489-m - Railroad Real Property Used for Transportation Purposes.
  In making determinations as to railroad real property which is used for transportation purposes, the commissioner shall consider the manner in which property is classified...
• 489-n - Tentative Determination of Railroad Ceiling; Notice, Complaints and Hearing.
  1. Each year the commissioner shall make a tentative determination of each railroad ceiling. Thereafter, the commissioner shall give notice in writing to each assessing...
• 489-o - Final Determination of Railroad Ceiling; Certificate.
  1. After the hearing provided for in section four hundred eighty-nine-n of this title, the state board of real property tax services shall finally determine...
• 489-p - Application of Railroad Ceiling; Computation of Exemption.
  1. Upon receipt of a certificate setting forth the railroad ceiling for a railroad company, the assessor shall compute for his assessing unit the aggregate...
• 489-q - Reports to Commissioner.
  Each railroad company shall furnish the commissioner the following: 1. A copy of all income, profit and loss and other financial statements filed with the...
• 489-r - Inspection of Accounts and Property of Railroad Companies.
  1. The commissioner or its authorized representative shall have access at reasonable times to all accounts and records established and maintained by a railroad company...
• 489-s - Estimated Railroad Ceiling.
  Upon application of a county, city, town, village, school district or special district, the commissioner shall establish estimated railroad ceilings for the assessment roll or...
• 489-t - Inapplicability of Title.
  * The provisions of this title shall not apply to any railroad real property of any railroad company for which railroad ceilings were not made...
• 489-u - Inapplicability of Title.
  The provisions of this title shall not apply to railroad real property which is owned by or under the jurisdiction, supervision or control of either...
• 489-v - Capital Improvements to Railroad Property.
  1. As used in this section: (a) "Completed capital project" shall mean a capital project which has been certified by the commissioner to be completed...
• 489-w - Railroad Ceiling; Transitional Adjustment.
  1. Any reduction in a railroad ceiling established pursuant to this title or title two-B of this article resulting from amendments to this title or...

Last modified: February 3, 2019