New York § 489-H Average railway earnings

New York Statutes

§ 489-H — Average railway earnings

New York § 489-H

Law RPTReal Property Tax

Title 2-ARailroad Real Property of Intrastate Railroad Companies

Art. 4Exemptions

This text of New York § 489-H (Average railway earnings) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Real Property Tax § 489-H (2026).

Text

§ 489-h. Average railway earnings.

1.The average railway earnings\nshall be determined for each railroad company as follows:\n (a) Ascertain so far as may be practicable the revenues which such\nrailroad company is entitled to receive from transportation service and\nfrom rents from property constituting the railroad system included in\nthe system reproduction cost;\n (b) Ascertain so far as may be practicable the expenses incurred in\nfurnishing transportation service, including expenses incurred in the\noperation and maintenance of the property constituting the railroad\nsystem included in the system reproduction cost, depreciation of such\nproperty, rents and other expenses incurred for property used by such\nrailroad company for transportation purposes not included in the system\n

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§ 489-h. Average railway earnings. 1. The average railway earnings\nshall be determined for each railroad company as follows:\n (a) Ascertain so far as may be practicable the revenues which such\nrailroad company is entitled to receive from transportation service and\nfrom rents from property constituting the railroad system included in\nthe system reproduction cost;\n (b) Ascertain so far as may be practicable the expenses incurred in\nfurnishing transportation service, including expenses incurred in the\noperation and maintenance of the property constituting the railroad\nsystem included in the system reproduction cost, depreciation of such\nproperty, rents and other expenses incurred for property used by such\nrailroad company for transportation purposes not included in the system\nreproduction cost, and United States government taxes for old-age\nretirement under the federal railroad retirement tax act and for\nunemployment insurance under the federal railroad unemployment insurance\nact but excluding all other taxes;\n (c) Subtract the expenses from the revenues and the result shall be\nthe railway earnings; and\n (d) Average the railway earnings for the latest five calendar years\navailable prior to the tentative determination of the railroad ceiling.\nThe result shall be the average railway earnings.\n 2. In making determinations under this section, the commissioner shall\nconsider the information contained in the income, profit and loss\nstatements and other financial statements of the railroad company filed\nwith the interstate commerce commission, and the accounting records\nmaintained by such railroad company in accordance with the uniform\nsystem of accounts for railroad companies prescribed by the interstate\ncommerce commission. The commissioner may consider information available\nfrom the commissioner of transportation or other regulatory agency\nhaving jurisdiction over the accounts of such railroad company, as well\nas information available from other sources, including reports required\npursuant to section four hundred eighty-nine-q and such other\ninformation on the subject as may be available to it.\n