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Assessor Manuals, Exemption Administration

Exemption Administration Manual—Part 2: Industrial, Commercial, and Public Service

Section 4.06 - Rap Tran L Section 103: Railroads and Related Property (NYC)

Exemption code(s):

17010

Year originally enacted:

Before 1896

Related statutes:

None.

Summary:

A rapid transit railroad, street surface railroad, omnibus line, any other transit facility, or any railroad used for local service, together with related property, that is owned by New York City is wholly exempt from taxation and special assessments.

Eligibility requirements

Ownership requirements:

Property must be owned by New York City.

Property location requirements:

Property must be located in New York City.

Property use requirements:

Property must be used directly or in support of the transportation of passengers as common carriers for hire.

Certification by state or local government:

None required.

Required construction start date or other time requirement:

None.

Local option

No.

Limitation on exemption

Limitation on exemption by amount, duration, and taxing jurisdiction
  General municipal taxes School district taxes Special ad valorem tax Special assessments
1. Amount No limit No limit NA No limit
2. Duration No limit No limit NA No limit
3. Taxing jurisdiction
a. City Ex NA NA Ex
b. School district NA Ex NA NA
Ex - Exempt   Tax - Taxable     NA - Not Applicable

Payments in lieu of taxes

None required.

Calculation of exemption

General municipal and school district taxes:

100% of assessed value.

Special ad valorem levies and special assessments:

100% of basis of assessment.

Coding of exemption on assessment roll

Coding of exemption on assessment roll
Code Description of alternative codes possible
17010  

Assessment roll section(s):

Non-ceiling Railroads.

Note: This code should not be used to identify property that is exempt under any of the statutes listed under Similar Exemptions below. For coding of such property, see the Exemption Profile for the statute that applies.

Filing requirements (owner or occupant of property)

None.

Reporting requirements (assessor):

None.

Similar exemptions:

Similar exemptions
Subject Statute
Amtrak Railroad 45 USC 546-b
Municipal railroads (all capital stock owned by municipal corporation) RPTL §456
Railroad companies (interstate) RPTL §489-d
Railroad companies (intrastate) RPTL §489-dd
Railroad passenger stations in New York City RPTL §476-a

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