N.Y. Real Prop. Tax Law § 562

§ 562. Certain property used or occupied by a railroad.\nNotwithstanding the provisions of this chapter or any other law, real\nproperty used or occupied by a railroad for purposes of railroad\noperation, title to which is in the state of New York or in any\nmunicipal corporation thereof under any of the grade crossing\nelimination acts, shall be deemed property of the railroad for purposes\nof taxation and shall be assessed and taxed in the same manner and to\nthe same extent as if such railroad were the owner thereof.\n