Section 250. Definitions

1.  The  term  "real  property" as used in this
  article includes the land itself above and under  water,  all  buildings
  and  other  articles  and structures, substructures and superstructures,
  erected upon, under or above, or affixed to the same;  all  wharves  and
  piers,  including the value of the right to collect wharfage, cranage or
  dockage thereon; all bridges, all  telegraph  lines,  wires,  poles  and
  appurtenances; all supports and inclosures for electrical conductors and
  other   appurtenances   upon,   above   and  underground;  all  surface,
  underground  or  elevated  railroads,  including  the   value   of   all
  franchises,  rights  or permission to construct, maintain or operate the
  same in, under, above, on  or  through,  streets,  highways,  or  public
  places;  all  railroad  structures,  substructures  and superstructures,
  tracks and the iron  thereon;  branches,  switches  and  other  fixtures
  permitted  or  authorized  to be made, laid or placed in, upon, above or
  under any public or private road, street or ground; all mains, pipes and
  tanks laid or placed in, upon, above or  under  any  public  or  private
  street  or  place for conducting steam, heat, water, oil, electricity or
  any  property,  substance  or  product  capable  of  transportation   or
  conveyance  therein or that is protected thereby, including the value of
  all franchises, rights, authority or permission to  construct,  maintain
  or operate, in, under, above, upon, or through, any streets, highways or
  public  places,  any  mains, pipes, tanks, conduits or wires, with their
  appurtenances, for conducting water, steam, heat, light, power, gas, oil
  or other substance, or electricity or telegraphic, telephonic  or  other
  purposes;  all  trees  and  underwood  growing upon land, and all mines,
  minerals, quarries and fossils in  and  under  the  same,  except  mines
  belonging to the state; and all the forms of housing which are adaptable
  to  motivation by a power connected thereto or which may be propelled by
  a power within themselves and which are or can be used  as  a  house  or
  living  abode  or  habitation  of  one or more persons, or for business,
  commercial or office purposes, either temporarily  or  permanently,  and
  commonly  called  and  hereafter  referred  to as "trailers"; except (1)
  transient trailers which have been located within the  boundaries  of  a
  city,  town  or  village for less than sixty days and (2) trailers which
  are for sale and which are not occupied. Said terms  shall  not  include
  bulk milk tanks or coolers installed upon the farm to hold milk awaiting
  shipment   to   market.  "Real  property"  also  includes  everything  a
  conveyance or mortgage of which can  be  recorded  as  a  conveyance  or
  mortgage of real property under the laws of the state.
    2.  (a)  The  term  "mortgage"  as used in this article includes every
  mortgage or deed of trust which imposes a lien on or affects  the  title
  to  real property, notwithstanding that such property may form a part of
  the security for the debt or debts secured  thereby.  An  assignment  of
  rents  to  accrue  from  tenancies, subtenancies, leases or subleases of
  real property, within any city in the state having a population  of  one
  million  or more, given as security for an indebtedness, shall be deemed
  a mortgage of real property for  purposes  of  this  article.  Executory
  contracts for the sale of real property under which the vendee has or is
  entitled  to possession shall be deemed to be mortgages for the purposes
  of this article and shall be  taxable  at  the  amount  unpaid  on  such
  contracts.  A contract or agreement by which the indebtedness secured by
  any mortgage is increased or added to, shall be  deemed  a  mortgage  of
  real  property  for the purpose of this article, and shall be taxable as
  such upon the amount  of  such  increase  or  addition.  Notwithstanding
  anything  in  this  section  or  section  two hundred fifty-five of this
  article to the contrary, a contract or agreement whereby the proceeds of
  any indebtedness secured by a mortgage of real property in any  city  in
  the  state having a population of one million or more are used to reduce

  all or any part of a mortgagee's equity  interest  in  a  wraparound  or
  similar  mortgage  of  such  real property shall be deemed a mortgage of
  real property for the purposes of this article and shall be  taxable  as
  such  to  the  extent  of  the  amount of such proceeds so used, without
  regard to whether  the  aggregate  amount  of  indebtedness  secured  by
  mortgages of such real property is increased or added to.
    (b)  Where  all  or  part of the indebtedness secured by a mortgage of
  real property within any city in the state having a  population  of  one
  million  or more has been paid and new funds are advanced or re-advanced
  which are to be secured by such mortgage, the contract or  agreement  by
  which  such funds are advanced or re-advanced shall be deemed a mortgage
  of real property for purposes of this article, and shall be  taxable  as
  such  upon the amount of such new funds, except as otherwise provided in
  section two hundred fifty-three-b of this article.
    3. The term "tax district" as used in this article  means  a  city  or
  town.