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Assessor's Manual, Volume 4, ExemptionAdministration

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Exemption Code(s): 17010 Year Originally Enacted: Before 1896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.

  1. ELIGIBILITY REQUIREMENTS:
    1. Ownership Requirements: Property must be owned by New York City.
       
    2. Property Location Requirements: Property must be located in New York City.
       
    3. Property Use Requirements: Property must be used directly or in support of the transportation of passengers as common carriers for hire.
       
    4. Certification by State or Local Government: None required.
       
    5. Required Construction Start Date or Other Time Requirement:  None.
       
  2. LOCAL OPTION: No.
     
  3. LIMITATION ON EXEMPTION:
      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-Exemp Tax-Taxable NA-Not Applicable

     
  4. PAYMENTS IN LIEU OF TAXES: None required.
     
  5. CALCULATION OF EXEMPTION:
    1. General Municipal and School District Taxes: 100% of assessed value.
    2. Special Ad Valorem Levies and Special Assessments: 100% of basis of assessment.
       
  6. 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.

  7. FILING REQUIREMENTS (Owner or Occupant of Property): None.
     
  8. REPORTING REQUIREMENTS (Assessor): None.
     
  9. 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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