* § 499-llll. Local public utility mass real property value. The commissioner shall compute the local public utility mass real property value as follows:

Terms Used In N.Y. Real Property Tax Law 499-LLLL

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Local public utility mass real property: means public utility mass real property that is located in a particular town, village, city or county assessing unit and under the same ownership. See N.Y. Real Property Tax Law 499-HHHH
  • Public utility mass real property: means real property, including conduits, cables, lines, wires, poles, supports and enclosures for electrical conductors located on, above and below real property, which is used in the transmission and distribution of telephone or telegraph service, and electromagnetic voice, video and data signals. See N.Y. Real Property Tax Law 499-HHHH
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.

1. The local reproduction cost of the public utility mass real property of each public utility mass real property owner in every assessing unit is the cost of reproduction, less depreciation of that 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 a public utility mass real property owner. Every such application shall be submitted with the annual report required by section four hundred ninety-nine-rrrr of this title.

* NB Repealed January 1, 2027

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