RPTL 499-llll · Title 5. Assessment Ceilings For Local Public Utility Mass Real Property
Local public utility mass real property value
Text — Law content up to date as of October 30, 2026, as published by the New York State Senate (Open Legislation)
* § 499-llll. Local public utility mass real property value. The commissioner shall compute the local public utility mass real property value as follows:
1. The local reproduction cost of the public utility mass real property of each public utility mass real property owner in every assessing unit is the cost of reproduction, less depreciation of that public utility mass real property.
2. In ascertaining depreciation of property under this section, consideration may be given to the age, physical condition, average service lives of assets and other relevant factors.
3. Adjustments for economic or functional obsolescence shall only be made upon application by a public utility mass real property owner. Every such application shall be submitted with the annual report required by section four hundred ninety-nine-rrrr of this title.
* NB Repealed January 1, 2031
Source of truth
- Edition
- Law content up to date as of October 30, 2026, as published by the New York State Senate (Open Legislation)
- Official file
- https://legislation.nysenate.gov/pdf/laws/RPT499-LLLL
- Text hash
- sha256 68590d654938524e328371dfec9032d16e24a610af228e816de3fbe9a8eaf243
- Composed by
- gen_ny_statutes.py 2026-11-10: the Senate's Open Legislation law tree (GET /api/3/laws/<ID>?full=true) read in document order; the Senate's PDF of the whole law (GET /pdf/laws/<ID>?full=true), read with PDFium, prints the same words in the same order
- The Senate's note "Repealed January 1, 2031": in force until then.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.