§ 489-W — Railroad ceiling; transitional adjustment

§ 489-w. Railroad ceiling; transitional adjustment. 1. Any reduction\nin a railroad ceiling established pursuant to this title or title two-B\nof this article resulting from amendments to this title or title two-B\nof this article effective in the year two thousand three for assessment\nrolls filed in two thousand three through two thousand eight shall be\nadjusted as follows:\n (a) Ceilings for assessment rolls filed in two thousand three and two\nthousand four shall only be reduced by one-fourth of the difference\nbetween the ceilings or assessments against which taxes were levied on\nassessment rolls filed in two thousand and the ceilings that would be\nestablished for the two thousand three and two thousand four assessment\nrolls but for the provisions of this section.\n (b) Ceilings for assessment rolls filed in two thousand five and two\nthousand six shall only be reduced by one-half of the difference between\nthe ceilings or assessments against which taxes were levied on\nassessment rolls filed in two thousand, and the ceilings that would be\nestablished for the two thousand five and two thousand six assessment\nrolls but for the provisions of this section.\n (c) Ceilings for assessment rolls filed in two thousand seven and two\nthousand eight shall only be reduced by three-quarters of the difference\nbetween the ceilings or assessments against which taxes were levied on\nassessment rolls filed in two thousand and the ceilings that would be\nestablished for the two thousand seven and two thousand eight assessment\nrolls but for the provisions of this section.\n (d) In calculating the limitations created by this section, the\ncommissioner shall reflect any material change in level of assessment\ncalculated pursuant to article twelve of this chapter and any new\nconstruction or demolition in the net amount of five hundred thousand\ndollars or more in any one year.\n 2. State assistance shall be paid pursuant to this section, beginning\nin the year two thousand three, to municipal corporations and special\ndistricts that are affected by amendments to this title or title two-B\nof this article enacted in the year two thousand two; provided that the\ndetermination of such assistance shall be subject to the approval of the\ndirector of the budget.\n (a) Upon issuance of a warrant by a tax-levying body for an assessment\nroll filed in the year two thousand three, the chief fiscal officer of\nsuch tax-levying body shall report to the commissioner the amount of\ntaxes due on any assessment of railroad transportation property\nappearing on such roll, or the taxes that would have been due on the\nrailroad ceiling for that property if such ceiling were higher than the\nassessment, and the taxes paid on the same assessment of such railroad\nreal property appearing on the assessment roll filed in the year two\nthousand. A county shall prepare a single report for the cities, towns,\nand special districts for which it levies taxes. The commissioner shall\nthereupon certify to the comptroller payment of state assistance in the\namount by which the amount of taxes paid on those assessments or\nceilings on the assessment roll filed in the year two thousand exceed\nthe taxes due on the lower of the assessment or ceiling of railroad\ntransportation property appearing on the assessment roll filed in the\nyear two thousand three.\n (b) Upon annexation of a warrant to an assessment roll filed in two\nthousand four through two thousand six, the commissioner shall certify\npayments in the same amount as those certified for assessment rolls\ncompleted in two thousand three. Upon annexation of a warrant to an\nassessment roll filed in two thousand seven and two thousand eight, the\ncommissioner shall certify payments in the amount of one hundred fifty\npercent of the amount certified for assessment rolls completed in two\nthousand three. For assessment rolls completed in two thousand nine\nthrough two thousand twelve, the commissioner shall certify payments in\nthe amount of two hundred percent of the amount certified for assessment\nrolls completed in two thousand three. Any state aid pursuant to this\nsection may be reduced proportionately to reflect an increase in\nrailroad ceilings due to the failure of the owner to receive increased\ndepreciation as provided in section four hundred eighty-nine-g or\nsection four hundred eighty-nine-ii of this article. Such state\nassistance shall not be available for assessment rolls completed in two\nthousand thirteen and thereafter.\n (c) The amount of any assistance certified pursuant to this section\nmay be modified to reflect proportionally new construction or demolition\nin the net amount of five hundred thousand dollars or more in any one\nyear.\n (d) No payment of state aid shall be made pursuant to this section if\na railroad ceiling, adjusted pursuant to paragraph (c) of this\nsubdivision, is higher than the ceiling established for the assessment\nroll filed in the year two thousand.\n (e) No payment of state aid shall be made pursuant to this section if\nthe amount of such payment would be less than one hundred dollars.\n 3. State assistance shall be paid pursuant to this section to\nmunicipal corporations and special districts that are affected by any\nexemption of railroad real property as a result of acquisition by a\npublic authority, or lease or sublease of such railroad real property by\nthe public authority; provided that such contract for acquisition, or\nlease or sublease of such railroad real property by the public authority\nwent into effect in the year two thousand three. Such assistance shall\nbe equivalent to the amount the municipality or special district would\nhave received pursuant to subdivision two of this section as if such\nacquisition, lease or sublease of such railroad real property by such\npublic authority had not occurred.\n