(a) In any assessing unit other than an assessing unit which is expected to complete a reassessment, the tentative railroad ceiling shall be computed as follows:

1. (1) The local reproduction cost of the railroad real property is computed at the valuation date that applies to the current roll, as set forth in sections 489-e and 489-ee of the Real Property Tax Law.
2. (2) Taxable full value equals the local reproduction cost, determined in accordance with paragraph (1) of this subdivision, multiplied by the applicable economic factor determined pursuant to either section 489-e or 489-ee of the Real Property Taw Law, as the case may be.
3. (3) The equalized value of the railroad real property is determined by multiplying the taxable full value of the railroad real property, as determined in accordance with paragraph (2) of this subdivision, by the final State equalization rate for the prior year's final assessment roll; provided, however, that if the final equalization rate for that roll has not been established at the time the tentative railroad ceiling assessment is to be determined, the tentative equalization rate for that roll shall be used in lieu thereof.
4. (4) The tentative railroad ceiling equals the equalized value of the railroad real property as determined in accordance with paragraph (3) of this subdivision adjusted pursuant to section 489-w of Real Property Tax Law.

(b) In an assessing unit which is expected to complete a reassessment, the tentative railroad ceiling shall be computed as follows:

1. (1) The taxable full value of the railroad real property is computed at the valuation date that applies to the current roll, as set forth in sections 489-e and 489-ee of the Real Property Tax Law.
2. (2) The tentative railroad ceiling equals the taxable full value of the railroad property adjusted pursuant to section 489-w of the Real Property Tax Law.