A few comments:
My bascule bridges are Mocrossing objects (an older model Kind), which are not height adjustable as newer scenery models now are. As mentioned, you need to adjust the ground level in the centre of the bridge to change the height.
As Ben said, most bridges are in the open position, and the Mocrossing object triggers the closing when a trian approaches, if I recall the fixed trigger radius for a Mocrossing is something like 600 metres, so you need to adjust train speed to allow the span to come down before the train crosses.
While a creator can make the bridge be normally down (reversing the animation), the train will trigger it to open as it approaches, a defaut behaviour of a Mocrossing, so you would be presented with a raised bridge when the train approaches.
A creator can make it to be operated by ships on invisible track below the bridge triggering the normally down span to go up, and the rail track would be laid separately by the user over the bridge, in order not to trigger the animation by trains. This would require invisible track across the lift span.
The problem with this approach is that if the bridge is up, the train will not stop at the open bridge - the separately placed track is not part of the Mocrossing. There are ways to make a train track and ship track interact using track triggers, or Boat's ATLS models, but it can be a bit complicated for most users.
If you are making a fixed bridge object, no triggered animation, you should make it as a Kind Buildable, this allows height adjustment and having attached track on the object.
Ian