Railway property refers to land and facilities used for railway operations, including tracks, rail yards, stations, and maintenance facilities. Railway property often receives special assessment treatment for property tax purposes because standard valuation methods don't easily apply to linear infrastructure. Federal railways operating interprovincially fall under federal jurisdiction, limiting municipal regulatory authority even when railways pass through communities. Property assessment for railways typically uses special formulas rather than market value approaches. Municipalities may collect property taxes on railway property but have limited ability to regulate rail operations, creating tensions when railway activities affect local communities.