§ 489-cc. 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 of railroad companies situated in such city, town, village or county, as the case may be, including all railroad real property of such railroad companies as defined in subdivision three of section four hundred eighty-nine-bb of this chapter. Where a village has enacted a local law as provided in subdivision three of section fourteen hundred two of this chapter, the town or county assessor shall apportion that part of the railroad property assessment applicable to the village for purposes of the copy of the part of the town or county assessment roll used for village tax purposes.

Terms Used In N.Y. Real Property Tax Law 489-CC

  • Railroad real property: means the land, real estate and real property (as defined in subdivision twelve of section one hundred two of this chapter) of a railroad company, which is used by such railroad company for transportation purposes and which is subject to real property taxation except as provided in this title, and includes (a) such property leased to such railroad company, (b) such property used for transportation purposes by such railroad company under a trackage right or other operating agreement, title to which is in other than a railroad company as defined in subdivision two of this section and subdivision two of section four hundred eighty-nine-b of this chapter, (c) such property used or occupied by such railroad company, title to which is in the state or in any municipal corporation thereof under any of the grade crossing elimination acts, and (d) the tangible property of such railroad company situated in, upon, under or above any street, highway, public place or public waters; but does not include the value of any franchise, right or permission to construct, maintain or operate, in, under, above, on or through, streets, highways or public places. See N.Y. Real Property Tax Law 489-BB
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Subsidized railroad real property: means any railroad real property for which a rail service continuation subsidy is paid by the United States or the state of New York. See N.Y. Real Property Tax Law 489-BB

2. Railroad real property shall be separately assessed from real property of railroad companies not used for transportation purposes, and subsidized railroad real property shall be separately assessed from all other railroad real property. The commissioner and railroad companies upon request shall furnish the assessor information and data relating to the classification of the real property of railroads as transportation and non-transportation property and to the identification of subsidized railroad real property. Action by assessors under this subdivision shall not in any way affect the classification of property or the segregation of assessments in accordance with section four hundred eighty-nine-mm of this chapter in connection with the application of railroad ceilings.

3. Railroad real property shall be assessed according to its value and ownership as of the dates specified by subdivision four of section four hundred eighty-nine-ee of this title for the computation of the ceiling of such property.

  Previous section
Next section  
 Title 2-B Contents