2016 New York Laws
RPT - Real Property Tax
Article 4 - EXEMPTIONS
Title 2 - (420-A - 489) PRIVATE PROPERTY
476-A - Railroad passenger stations.

  476-a. Railroad passenger stations. Each railroad passenger station
  in a city having a population of more than one  million,  including  the
  railroad  passenger  terminal  facilities  used  in connection with such
  passenger station, and the railroad roadway approaches to  such  station
  (including  land,  tracks,  signals,  bridges, tunnels and other roadway
  structures and facilities) situated within five miles of  the  mid-point
  of  such  passenger  station as located on March first, nineteen hundred
  sixty-five, at which not less than seventy-five percent of the passenger
  trains using such station utilized by the railroad  or  railroads  using
  such  station  originate  and terminate at such station, shall be exempt
  from taxation, provided  that  no  portion  of  such  station,  terminal
  facilities,  or  approaches  is  regularly  used in freight service. The
  exemptions provided by the preceding sentence shall  not  apply  to  any
  railroad  for  which the commissioner has, pursuant to the provisions of
  section four  hundred  eighty-nine-i  of  this  chapter,  determined  an
  earnings ratio in excess of two and one-half percent.