New York § 499-LLLL Local public utility mass real property value

New York Statutes

§ 499-LLLL — Local public utility mass real property value

New York § 499-LLLL

Law RPTReal Property Tax

Title 5Assessment Ceilings For Local Public Utility Mass Real Property

Art. 4Exemptions

This text of New York § 499-LLLL (Local public utility mass real property value) 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 § 499-LLLL (2026).

Text

  * § 499-llll. Local public utility mass real property value. The\ncommissioner shall compute the local public utility mass real property\nvalue as follows:\n  1. The local reproduction cost of the public utility mass real\nproperty of each public utility mass real property owner in every\nassessing unit is the cost of reproduction, less depreciation of that\npublic utility mass real property.\n  2. In ascertaining depreciation of property under this section,\nconsideration may be given to the age, physical condition, average\nservice lives of assets and other relevant factors.\n  3. Adjustments for economic or functional obsolescence shall only be\nmade upon application by a public utility mass real property owner.\nEvery such application shall be submitted with the annual report\nrequir

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

* § 499-llll. Local public utility mass real property value. The\ncommissioner shall compute the local public utility mass real property\nvalue as follows:\n 1. The local reproduction cost of the public utility mass real\nproperty of each public utility mass real property owner in every\nassessing unit is the cost of reproduction, less depreciation of that\npublic utility mass real property.\n 2. In ascertaining depreciation of property under this section,\nconsideration may be given to the age, physical condition, average\nservice lives of assets and other relevant factors.\n 3. Adjustments for economic or functional obsolescence shall only be\nmade upon application by a public utility mass real property owner.\nEvery such application shall be submitted with the annual report\nrequired by section four hundred ninety-nine-rrrr of this title.\n * NB Repealed January 1, 2027\n