Laws of New York (Last Updated: November 21, 2014) |
RPT Real Property Tax |
Article 4. EXEMPTIONS |
Title 2-B. RAILROAD REAL PROPERTY OF INTERSTATE RAILROAD COMPANIES |
Section 489-GG. Ratio
Latest version.
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The state board shall compute to the nearest thousandth of one percent a ratio for each railroad company by dividing its average railway expenses by its average railway revenues; provided, however, that if a railroad company shall have operated for less than one full year prior to the first day of the year in which a tentative determination of a railroad ceiling for that railroad company is made, then the ratio for that ceiling of that railroad company shall be one.