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

* § 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shall be submitted with the annual report\nrequired by section four hundred ninety-nine-rrrr of this title.\n * NB Repealed January 1, 2027\n