Exemption Administration Manual, Part 2: Industrial, Commercial, and Public Service—Section 4.06 - Rap Tran L Section 103: Railroads and Related Property (NYC)
Assessor Manuals
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Year originally enacted: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
| 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
| 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:
| 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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