2012 New York Consolidated Laws
RPT - Real Property Tax
Article 12-B - (1260 - 1264) SPECIAL STATE EQUALIZATION RATIOS FOR COMPUTING CONSTITUTIONAL DEBT LIMITATIONS FOR CITY SCHOOL DISTRICTS
1262 - Manner by which ratios shall be determined.

 
    §  1262.  Manner  by  which ratios shall be determined. In determining
  ratios pursuant to this article, the commissioner shall,  for  the  last
  completed  assessment  rolls  and  the  four preceding assessment rolls,
  determine the ratios of assessed valuation to full valuation as  of  the
  first  day  of  January  of  the  fiscal  year  for which the ratios are
  applicable. Each ratio shall be determined on the basis  of  the  market
  value  survey  completed  pursuant to article twelve of this chapter and
  for which the valuation date  is  the  first  day  of  January  of  each
  applicable  year.  In  the event that a market value survey has not been
  completed based upon each such valuation date,  the  commissioner  shall
  determine the ratios in the following manner:
    (a)  compute the ratios of assessed valuation to the full valuation of
  taxable real estate on the  basis  of  market  value  surveys  completed
  pursuant to article twelve of this chapter;
    (b) on the basis of the ratios computed pursuant to subdivision (a) of
  this section, project increases or decreases in the ratios for years for
  which  the information has not been developed pursuant to article twelve
  of this chapter;
    (c) avail itself of appropriate market value information appearing  in
  its  office  or acquired in the discharge of its duties pursuant to this
  chapter.