New York Laws
Title 2-A - Railroad Real Property of Intrastate Railroad Companies
489-W - Railroad Ceiling; Transitional Adjustment.

(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.