N.Y. TAX Law § 250 — New York Code / Act TAX / Article 11 / Section 250
Definitions
Status: in_force

§ 250. Definitions. 1. The term "real property" as used in this\narticle includes the land itself above and under water, all buildings\nand other articles and structures, substructures and superstructures,\nerected upon, under or above, or affixed to the same; all wharves and\npiers, including the value of the right to collect wharfage, cranage or\ndockage thereon; all bridges, all telegraph lines, wires, poles and\nappurtenances; all supports and inclosures for electrical conductors and\nother appurtenances upon, above and underground; all surface,\nunderground or elevated railroads, including the value of all\nfranchises, rights or permission to construct, maintain or operate the\nsame in, under, above, on or through, streets, highways, or public\nplaces; all railroad structures, substructures and superstructures,\ntracks and the iron thereon; branches, switches and other fixtures\npermitted or authorized to be made, laid or placed in, upon, above or\nunder any public or private road, street or ground; all mains, pipes and\ntanks laid or placed in, upon, above or under any public or private\nstreet or place for conducting steam, heat, water, oil, electricity or\nany property, substance or product capable of transportation or\nconveyance therein or that is protected thereby, including the value of\nall franchises, rights, authority or permission to construct, maintain\nor operate, in, under, above, upon, or through, any streets, highways or\npublic places, any mains, pipes, tanks, conduits or wires, with their\nappurtenances, for conducting water, steam, heat, light, power, gas, oil\nor other substance, or electricity or telegraphic, telephonic or other\npurposes; all trees and underwood growing upon land, and all mines,\nminerals, quarries and fossils in and under the same, except mines\nbelonging to the state; and all the forms of housing which are adaptable\nto motivation by a power connected thereto or which may be propelled by\na power within themselves and which are or can be used as a house or\nliving abode or habitation of one or more persons, or for business,\ncommercial or office purposes, either temporarily or permanently, and\ncommonly called and hereafter referred to as "trailers"; except (1)\ntransient trailers which have been located within the boundaries of a\ncity, town or village for less than sixty days and (2) trailers which\nare for sale and which are not occupied. Said terms shall not include\nbulk milk tanks or coolers installed upon the farm to hold milk awaiting\nshipment to market. "Real property" also includes everything a\nconveyance or mortgage of which can be recorded as a conveyance or\nmortgage of real property under the laws of the state.\n  2. (a) The term "mortgage" as used in this article includes every\nmortgage or deed of trust which imposes a lien on or affects the title\nto real property, notwithstanding that such property may form a part of\nthe security for the debt or debts secured thereby. An assignment of\nrents to accrue from tenancies, subtenancies, leases or subleases of\nreal property, within any city in the state having a population of one\nmillion or more, given as security for an indebtedness, shall be deemed\na mortgage of real property for purposes of this article. Executory\ncontracts for the sale of real property under which the vendee has or is\nentitled to possession shall be deemed to be mortgages for the purposes\nof this article and shall be taxable at the amount unpaid on such\ncontracts. A contract or agreement by which the indebtedness secured by\nany mortgage is increased or added to, shall be deemed a mortgage of\nreal property for the purpose of this article, and shall be taxable as\nsuch upon the amount of such increase or addition. Notwithstanding\nanything in this section or section two hundred fifty-five of this\narticle to the contrary, a contract or agreement whereby the proceeds of\nany indebtedness secured by a mortgage of real property in any city in\nthe state having a population of one million or more are used to reduce\nall or any part of a mortgagee's equity interest in a wraparound or\nsimilar mortgage of such real property shall be deemed a mortgage of\nreal property for the purposes of this article and shall be taxable as\nsuch to the extent of the amount of such proceeds so used, without\nregard to whether the aggregate amount of indebtedness secured by\nmortgages of such real property is increased or added to.\n  (b) Where all or part of the indebtedness secured by a mortgage of\nreal property within any city in the state having a population of one\nmillion or more has been paid and new funds are advanced or re-advanced\nwhich are to be secured by such mortgage, the contract or agreement by\nwhich such funds are advanced or re-advanced shall be deemed a mortgage\nof real property for purposes of this article, and shall be taxable as\nsuch upon the amount of such new funds, except as otherwise provided in\nsection two hundred fifty-three-b of this article.\n  3. The term "tax district" as used in this article means a city or\ntown.\n