New York § 489-J Exemption factor

New York Statutes

§ 489-J — Exemption factor

New York § 489-J

Law RPTReal Property Tax

Title 2-ARailroad Real Property of Intrastate Railroad Companies

Art. 4Exemptions

This text of New York § 489-J (Exemption factor) 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-J (2026).

Text

§ 489-j. Exemption factor.

(a)In accordance with the policy of\ngranting increasingly greater exemptions as the rate of earnings of a\nrailroad company declines, the exemption factor for each railroad\ncompany shall be determined in accordance with its earnings ratio. For\neach railroad company the percentage indicated under "exemption factor"\nin the following table opposite the earnings ratio of such company shall\nbe the exemption factor. If the earnings ratio of a railroad company\ndoes not coincide with a specific earnings ratio indicated in the table,\nthe exemption factor for such company shall be determined by\ninterpolation to the nearest tenth of one percent.\n Earnings Ratio Exemption Factor\n (Percent) (Percen

Free access — add to your briefcase to read the full text and ask questions with AI

§ 489-j. Exemption factor. (a) In accordance with the policy of\ngranting increasingly greater exemptions as the rate of earnings of a\nrailroad company declines, the exemption factor for each railroad\ncompany shall be determined in accordance with its earnings ratio. For\neach railroad company the percentage indicated under "exemption factor"\nin the following table opposite the earnings ratio of such company shall\nbe the exemption factor. If the earnings ratio of a railroad company\ndoes not coincide with a specific earnings ratio indicated in the table,\nthe exemption factor for such company shall be determined by\ninterpolation to the nearest tenth of one percent.\n Earnings Ratio Exemption Factor\n (Percent) (Percent)\n 10 0\n 9 5\n 8 10\n 7 15\n 6 20\n 5 30\n 4 40\n 3 50\n 2 60\n 1 80\n 0 80\n (b) Notwithstanding the provisions of subdivision (a) of this section,\nfor purposes of determining railroad ceilings for intrastate railroads\nfor assessment rolls completed in two thousand three and thereafter, the\npercentage indicated under "exemption factor" in the table in this\nsubdivision opposite the earnings ratio of the railroad company shall be\nthe exemption factor for each railroad company. If the earnings ratio of\na railroad company does not coincide with a specific earnings ratio\nindicated in the table in this subdivision, the exemption factor for\nsuch company shall be determined by interpolation to the nearest\nhundredth of one percent.\n Earnings Ratio Exemption Factor\n (Percent) (Percent)\n 12 0\n 11 5\n 10 10\n 9 15\n 8 20\n 7 25\n 6 30\n 5 35\n 4 40\n 3 50\n 2 60\n 1 80\n 0 85\n (c) Notwithstanding the provisions of subdivision (b) of this section,\nwhenever it shall appear that an exemption factor is decreasing more\nthan one-tenth from the exemption factor established in the prior year,\nsuch decrease may not exceed one-tenth.\n