2016 New York Laws
RPT - Real Property Tax
Article 4 - EXEMPTIONS
Title 2-B - (489-AA - 489-SS) 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 condition
  and ownership as of the first day of July of the year preceding the year
  in which the assessment roll on which such assessment will be entered is
  filed in the office of the city or town clerk, except that it  shall  be
  assessed according to its condition and ownership as of the first day of
  July  of  the  second  year  preceding  the date required by law for the
  filing of  the  final  assessment  roll  for  purposes  of  all  village
  assessment rolls.