N.Y. Real Property Tax Law § 489-w: Railroad ceiling; transitional adjustment

§ 489-w. Railroad ceiling; transitional adjustment. 1. Any reduction

in a railroad ceiling established pursuant to this title or title two-B

of this article resulting from amendments to this title or title two-B

of this article effective in the year two thousand three for assessment

rolls filed in two thousand three through two thousand eight shall be

adjusted as follows:

(a) Ceilings for assessment rolls filed in two thousand three and two

thousand four shall only be reduced by one-fourth of the difference

between the ceilings or assessments against which taxes were levied on

assessment rolls filed in two thousand and the ceilings that would be

established for the two thousand three and two thousand four assessment

rolls but for the provisions of this section.

(b) Ceilings for assessment rolls filed in two thousand five and two

thousand six shall only be reduced by one-half of the difference between

the ceilings or assessments against which taxes were levied on

assessment rolls filed in two thousand, and the ceilings that would be

established for the two thousand five and two thousand six assessment

rolls but for the provisions of this section.

(c) Ceilings for assessment rolls filed in two thousand seven and two

thousand eight shall only be reduced by three-quarters of the difference

between the ceilings or assessments against which taxes were levied on

assessment rolls filed in two thousand and the ceilings that would be

established for the two thousand seven and two thousand eight assessment

rolls but for the provisions of this section.

(d) In calculating the limitations created by this section, the

commissioner shall reflect any material change in level of assessment

calculated pursuant to article twelve of this chapter and any new

construction or demolition in the net amount of five hundred thousand

dollars or more in any one year.

2. State assistance shall be paid pursuant to this section, beginning

in the year two thousand three, to municipal corporations and special

districts that are affected by amendments to this title or title two-B

of this article enacted in the year two thousand two; provided that the

determination of such assistance shall be subject to the approval of the

director of the budget.

(a) Upon issuance of a warrant by a tax-levying body for an assessment

roll filed in the year two thousand three, the chief fiscal officer of

such tax-levying body shall report to the commissioner the amount of

taxes due on any assessment of railroad transportation property

appearing on such roll, or the taxes that would have been due on the

railroad ceiling for that property if such ceiling were higher than the

assessment, and the taxes paid on the same assessment of such railroad

real property appearing on the assessment roll filed in the year two

thousand. A county shall prepare a single report for the cities, towns,

and special districts for which it levies taxes. The commissioner shall

thereupon certify to the comptroller payment of state assistance in the

amount by which the amount of taxes paid on those assessments or

ceilings on the assessment roll filed in the year two thousand exceed

the taxes due on the lower of the assessment or ceiling of railroad

transportation property appearing on the assessment roll filed in the

year two thousand three.

(b) Upon annexation of a warrant to an assessment roll filed in two

thousand four through two thousand six, the commissioner shall certify

payments in the same amount as those certified for assessment rolls

completed in two thousand three. Upon annexation of a warrant to an

assessment roll filed in two thousand seven and two thousand eight, the

commissioner shall certify payments in the amount of one hundred fifty

percent of the amount certified for assessment rolls completed in two

thousand three. For assessment rolls completed in two thousand nine

through two thousand twelve, the commissioner shall certify payments in

the amount of two hundred percent of the amount certified for assessment

rolls completed in two thousand three. Any state aid pursuant to this

section may be reduced proportionately to reflect an increase in

railroad ceilings due to the failure of the owner to receive increased

depreciation as provided in section four hundred eighty-nine-g or

section four hundred eighty-nine-ii of this article. Such state

assistance shall not be available for assessment rolls completed in two

thousand thirteen and thereafter.

(c) The amount of any assistance certified pursuant to this section

may be modified to reflect proportionally new construction or demolition

in the net amount of five hundred thousand dollars or more in any one

year.

(d) No payment of state aid shall be made pursuant to this section if

a railroad ceiling, adjusted pursuant to paragraph (c) of this

subdivision, is higher than the ceiling established for the assessment

roll filed in the year two thousand.

(e) No payment of state aid shall be made pursuant to this section if

the amount of such payment would be less than one hundred dollars.

3. State assistance shall be paid pursuant to this section to

municipal corporations and special districts that are affected by any

exemption of railroad real property as a result of acquisition by a

public authority, or lease or sublease of such railroad real property by

the public authority; provided that such contract for acquisition, or

lease or sublease of such railroad real property by the public authority

went into effect in the year two thousand three. Such assistance shall

be equivalent to the amount the municipality or special district would

have received pursuant to subdivision two of this section as if such

acquisition, lease or sublease of such railroad real property by such

public authority had not occurred.