2023 New York Laws › RPT - Real Property Tax › Article 4 - Exemptions › Title 2-A - Railroad Real Property of Intrastate Railroad Companies › 489-W - Railroad Ceiling; Transitional Adjustment.

§  489-w.  Railroad ceiling; transitional adjustment. 1. Any reduction
in a railroad ceiling established pursuant to this title or title  two-B
of  this  article resulting from amendments to this title or title two-B
of this article effective in the year two thousand three for  assessment
rolls  filed  in  two thousand three through two thousand eight shall be
adjusted as follows:
(a) Ceilings for assessment rolls filed in two thousand three and  two
thousand  four  shall  only  be  reduced by one-fourth of the difference
between the ceilings or assessments against which taxes were  levied  on
assessment  rolls  filed  in two thousand and the ceilings that would be
established for the two thousand three and two thousand four  assessment
rolls but for the provisions of this section.
(b)  Ceilings  for assessment rolls filed in two thousand five and two
thousand six shall only be reduced by one-half of the difference between
the  ceilings  or  assessments  against  which  taxes  were  levied   on
assessment  rolls  filed in two thousand, and the ceilings that would be
established for the two thousand five and two  thousand  six  assessment
rolls but for the provisions of this section.
(c)  Ceilings for assessment rolls filed in two thousand seven and two
thousand eight shall only be reduced by three-quarters of the difference
between the ceilings or assessments against which taxes were  levied  on
assessment  rolls  filed  in two thousand and the ceilings that would be
established for the two thousand seven and two thousand eight assessment
rolls but for the provisions of this section.
(d) In calculating  the  limitations  created  by  this  section,  the
commissioner  shall  reflect  any material change in level of assessment
calculated pursuant to article  twelve  of  this  chapter  and  any  new
construction  or  demolition  in the net amount of five hundred thousand
dollars or more in any one year.
2. State assistance shall be paid pursuant to this section,  beginning
in  the  year  two thousand three, to municipal corporations and special
districts that are affected by amendments to this title or  title  two-B
of  this article enacted in the year two thousand two; provided that the
determination of such assistance shall be subject to the approval of the
director of the budget.
(a) Upon issuance of a warrant by a tax-levying body for an assessment
roll filed in the year two thousand three, the chief fiscal  officer  of
such  tax-levying  body  shall  report to the commissioner the amount of
taxes  due  on  any  assessment  of  railroad  transportation   property
appearing  on  such  roll,  or the taxes that would have been due on the
railroad ceiling for that property if such ceiling were higher than  the
assessment,  and  the taxes paid on the same assessment of such railroad
real property appearing on the assessment roll filed  in  the  year  two
thousand.  A county shall prepare a single report for the cities, towns,
and special districts for which it levies taxes. The commissioner  shall
thereupon  certify to the comptroller payment of state assistance in the
amount by which the  amount  of  taxes  paid  on  those  assessments  or
ceilings  on  the  assessment roll filed in the year two thousand exceed
the taxes due on the lower of the  assessment  or  ceiling  of  railroad
transportation  property  appearing  on the assessment roll filed in the
year two thousand three.
(b) Upon annexation of a warrant to an assessment roll  filed  in  two
thousand  four  through two thousand six, the commissioner shall certify
payments in the same amount as  those  certified  for  assessment  rolls
completed  in  two  thousand  three.  Upon annexation of a warrant to an
assessment roll filed in two thousand seven and two thousand eight,  the
commissioner  shall  certify payments in the amount of one hundred fifty
percent of the amount certified for assessment rolls  completed  in  two

thousand  three.  For  assessment  rolls  completed in two thousand nine
through two thousand twelve, the commissioner shall certify payments  in
the amount of two hundred percent of the amount certified for assessment
rolls  completed  in  two thousand three. Any state aid pursuant to this
section may  be  reduced  proportionately  to  reflect  an  increase  in
railroad  ceilings  due to the failure of the owner to receive increased
depreciation as  provided  in  section  four  hundred  eighty-nine-g  or
section   four  hundred  eighty-nine-ii  of  this  article.  Such  state
assistance shall not be available for assessment rolls completed in  two
thousand thirteen and thereafter.
(c)  The  amount  of any assistance certified pursuant to this section
may be modified to reflect proportionally new construction or demolition
in the net amount of five hundred thousand dollars or more  in  any  one
year.
(d)  No payment of state aid shall be made pursuant to this section if
a  railroad  ceiling,  adjusted  pursuant  to  paragraph  (c)  of   this
subdivision,  is  higher than the ceiling established for the assessment
roll filed in the year two thousand.
(e) No payment of state aid shall be made pursuant to this section  if
the amount of such payment would be less than one hundred dollars.
3.  State  assistance  shall  be  paid  pursuant  to  this  section to
municipal corporations and special districts that are  affected  by  any
exemption  of  railroad  real  property  as a result of acquisition by a
public authority, or lease or sublease of such railroad real property by
the public authority; provided that such contract  for  acquisition,  or
lease or sublease of such railroad real property by the public authority
went  into  effect in the year two thousand three. Such assistance shall
be equivalent to the amount the municipality or special  district  would
have  received  pursuant  to  subdivision two of this section as if such
acquisition, lease or sublease of such railroad real  property  by  such
public authority had not occurred.