§ 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 commerce, defense, and general welfare of the people of the state; that the financial condition of railroads in the state has deteriorated in recent years to […]
§ 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 stock company, association, partnership, individual or other person operating a railroad system wholly within the state of New York as a common carrier by rail, including but […]
§ 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 of railroad companies situated in such city, town, village or county, as the case may be, including all railroad real property of […]
§ 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 said property on a form prescribed by the commissioner and (b) submission of such proof as may be required by the […]
§ 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 property other than subsidized railroad real property of each railroad company situated in each assessing unit shall be established annually by the commissioner as follows: (1) […]
§ 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 rates of earnings, and in order to provide a uniform and equitable method for implementing this policy, the commissioner […]
§ 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 railroad company used by it for transportation purposes and owned by or leased to it constituting the railroad system: (a) the cost of reproduction new […]
§ 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 such railroad company is entitled to receive from transportation service and from rents from property constituting the railroad system included in the system reproduction cost; […]
§ 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, computed to the nearest hundredth of one per cent.
§ 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 each railroad company shall be determined in accordance with its earnings ratio. For each railroad company the percentage indicated under “exemption factor” in the following table […]
§ 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 unit the cost of reproduction new less depreciation of the railroad real property other than land; (b) Ascertain in each […]
§ 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 has been established as provided in subdivision two of this section, such rate shall be applied. For the purposes of this title, the 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 as property used for transportation purposes in accounts maintained pursuant to the uniform system of accounts for railroad companies as prescribed […]
§ 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 unit and each railroad company for which such tentative determination of a railroad ceiling shall have been made specifying […]
§ 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 the railroad ceiling for the railroad real property of each railroad company situated in each assessing unit. Whenever upon complaint the state […]
§ 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 of the assessed valuations and portions thereof attributable to railroad real property of such railroad company included in the railroad ceiling. […]
§ 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 interstate commerce commission and the commissioner of transportation; and 2. Such other reports as the commissioner may from time to time require containing such information […]
§ 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 relating to its property used for transportation purposes and the earnings derived therefrom. 2. The commissioner or its authorized representative […]
§ 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 rolls used thereby. Such estimated railroad ceilings may be used in the computation of average full valuation for tax and debt limit purposes in accordance […]
* § 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 in the calendar years nineteen hundred seventy-six and nineteen hundred seventy-seven unless such company files with the commissioner a statement in writing that such company […]
