NY Real Prop Tax L § 489-D (2021)
2021 New York Laws RPT - Real Property Tax Article 4 - Exemptions Title 2-A - Railroad Real Property of Intrastate Railroad Companies 489-D - Exemption of Railroad Real Property From Taxation.

§  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 commissioner that the   property is subsidized railroad real property. The application and proof   shall be filed with the appropriate assessing authority on or before the   appropriate  taxable  status  date,  with  copies thereof simultaneously   filed with the commissioner and the department of transportation.2. Bridges, viaducts, and other similar structures constructed  on  or   after  January  first,  nineteen hundred fifty-nine as the result of the   creation, pursuant to article twelve-B of the  highway  law,  of  a  new   highway,  street,  or roadway carrying railroad facilities over such new   highway, street, or roadway shall be exempt from taxation. No assessment   of any bridges, viaducts, and other  similar  structures  lengthened  or   reconstructed  on or after January first, nineteen hundred fifty-nine as   the result of the widening, relocation, or reconstruction of an existing   highway, street, or roadway, pursuant to article twelve-B of the highway   law, shall be increased by reason of such reconstruction or  relocation,   notwithstanding  the provisions of any general, special, or local law to   the contrary; provided, however, that the  assessment  on  the  original   portion  of  such bridges, viaducts, and other similar structures may be   varied in accordance with the changes made generally in  assessments  on   other  local real property. Whenever any new construction of property is   exempt pursuant to the provisions of this subdivision and the provisions   of subdivision three-a or three-b of this section, such  property  shall   receive the exemption provided by subdivision three-a or three-b of this   section.3.  Railroad real property shall be exempt from taxation to the extent   of any increase in value thereof by  reason  of  any  of  the  following   additions,   betterments,   improvements,  or  reconstructions  made  or   installed thereon after the last preceding taxable status date prior  to   April twenty-first, nineteen hundred fifty-nine: (a) the installation of   automatic  grade crossing protective devices, such as flashing lights or   automatic gates and their attendant facilities; (b)  the  reconstruction   or  the  replacement  of  signals,  railroad  bridges, stations, freight   houses, classification yards, repair shops, or any other  facility  used   for transportation purposes; provided that the property as reconstructed   or  replaced  is the same general type of facility and is located in the   same city or town as the property reconstructed or replaced; and (c) the   construction  or  reconstruction  pursuant   to   the   grade   crossing   elimination  acts,  the  railroad  law,  or the highway law of any grade   separation structure, such  as  bridges,  viaducts,  tunnels,  retaining   walls,  and  embankments  constructed  for the purpose of eliminating or   avoiding  highway-railroad  crossings  at  grade.    Whenever  any   new   construction  of  property  is exempt pursuant to the provisions of this   subdivision and the provisions of subdivision three-a or three-b of this   section,  such  property  shall  receive  the  exemption   provided   by   subdivision three-a or three-b of this section.3-a. Whenever a railroad company makes any improvements, enhancements,   or  upgrades  to any existing railroad real property in order to improve   freight service or to provide improved or  new  passenger  service,  the   cost  of  such  project  shall not be included in the calculation of any   subsequent railroad ceilings for a period of ten years from the date  of   completion  of  such project; provided that such project's improvements,   enhancements, or upgrades  were  made  pursuant  to  a  capital  project   proposal   approved   by   the   commissioner   of   the  department  of   transportation, as provided in section  four  hundred  eighty-nine-v  of    this  title.  The  department  of  transportation  shall  certify to the   commissioner  the  location  and  cost   of   any   such   improvements,   enhancements,  or  upgrades  in  a manner that provides the commissioner   with  sufficient time to carry out its responsibilities pursuant to this   chapter.3-b. The cost of bridges, viaducts, other structures, or  improvements   and  new  rail  lines,  including  any  new  rail lines built to replace   existing rail lines, shall not be included in  the  calculation  of  any   subsequent  railroad ceilings for a period of ten years from the date of   completion of such project; provided that such construction was pursuant   to a capital project  proposal  approved  by  the  commissioner  of  the   department  of  transportation  as  provided  in  section  four  hundred   eighty-nine-v of this title.  The  department  of  transportation  shall   certify   to  the  commissioner  the  location  and  cost  of  any  such   construction in a manner that provides the commissioner with  sufficient   time to carry out its responsibilities pursuant to this chapter.4.  Except  as  provided in subdivision five of this section, railroad   real property other than subsidized  railroad  real  property  shall  be   exempt  from  taxation to the extent that the assessed valuation thereof   exceeds the railroad ceiling determined in accordance with the  earnings   ratio as hereinafter prescribed.5. Railroad real property other than subsidized railroad real property   of a railroad company shall not be exempt from taxation under this title   on  an  assessment  roll of any assessing unit if the company failed for   any reason to pay within thirty days of the date when due the tax levied   upon the taxable portion of the assessment of any railroad real property   of the company set forth on the immediately preceding assessment roll of   any assessing unit, provided, however, that this subdivision  shall  not   apply  if  the  payment  or  enforcement of such taxes was restrained or   prohibited by an order issued by a court of competent jurisdiction under   the bankruptcy act of the United States.