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Assessor Manuals, Exemption Administration

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

Section 4.06 - RPTL Section 456: Municipal railroads (all capital stock owned by a municipal corporation)

Exemption code(s):

19950

Year originally enacted:

1941

Related statutes:

RPTL §490

Summary:

Real property held and used for railroad purposes by any corporation whose capital stock is entirely owned by a municipal corporation is wholly exempt from taxation and is exempt, for certain purposes, from special ad valorem levies and special assessments.

Eligibility requirements

Ownership requirements:

Property must be held by a corporation whose capital stock is wholly owned by a municipal corporation.

Property location requirements:

None.

Property use requirements:

Property must be used for railroad purposes.

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 No limit No limit
2. Duration No limit No limit No limit No limit
3. Taxing jurisdiction
a. County or county special districts Ex NA L L
b. City Ex NA NA Tax
c. Town or town special district Ex NA L L
d. Village Ex NA NA Tax
e. School district NA Ex NA NA
Ex-Exempt  Tax-Taxable  NA-Not Applicable
L - Liable only for (1) county and town charges for capital costs of sewer systems, water supply systems, waterways and drainage improvements, and streets and highways, plus (2) special assessments for indebtedness contracted before 7/1/53.

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 assessed value or other basis of assessment.

The exemption applies to all levies and assessments imposed by counties, county special districts, towns, and town special districts except (1) charges levied to pay for the capital costs of sewer systems, water supply systems, waterways and drainage improvements, and streets and highways, and (2) special assessments for indebtedness contracted before 7/1/53. The exemption does not apply to special assessments imposed by cities or villages.

Coding of exemption on assessment roll

Coding of exemption on assessment roll
Code Description of alternative codes possible
19950   

Assessment roll section(s):

Non-ceiling Railroads (ARLM Section 6).

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 546b
Railroad companies (interstate) RPTL §489-d
Railroad companies (intrastate) RPTL §489-dd
Railroad passenger stations in New York City RPTL §476-a
Railroad and related property (New York City) Rap Tran L §103

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