N.Y. Real Property Tax Law § 485-d: Water-works corporations

§ 485-d. Water-works corporations. Real property situated in a city

with a population of one million or more owned by a water-works

corporation subject to the provisions of the public service law and used

exclusively for the sale, furnishing and distribution of water for

domestic, commercial and public purposes, shall be wholly or partially

exempt from taxation provided that the local legislative body of such

city within which such property is situated adopts a local law so

providing.