New York Laws
Title 2-B - Railroad Real Property of Interstate Railroad Companies
489-CC - Assessment of Real Property of Railroads.

§ 489-cc. 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 such railroad
companies as defined in subdivision three of section four hundred
eighty-nine-bb of this chapter. Where a village has enacted a local law
as provided in subdivision three of section fourteen hundred two of this
chapter, the town or county assessor shall apportion that part of the
railroad property assessment applicable to the village for purposes of
the copy of the part of the town or county assessment roll used for
village tax purposes.

2. Railroad real property shall be separately assessed from real
property of railroad companies not used for transportation purposes, and
subsidized railroad real property shall be separately assessed from all
other railroad real property. The commissioner and railroad companies
upon request shall furnish the assessor information and data relating to
the classification of the real property of railroads as transportation
and non-transportation property and to the identification of subsidized
railroad real property. Action by assessors under this subdivision shall
not in any way affect the classification of property or the segregation
of assessments in accordance with section four hundred eighty-nine-mm of
this chapter in connection with the application of railroad ceilings.

3. Railroad real property shall be assessed according to its value and
ownership as of the dates specified by subdivision four of section four
hundred eighty-nine-ee of this title for the computation of the ceiling
of such property.