2012 New York Consolidated Laws
RPT - Real Property Tax
Article 6 - (600 - 626) ASSESSMENT OF SPECIAL FRANCHISES
606 - Use of state equalization rates, special equalization rates and levels of assessment in making special franchise assessments.

 
    § 606. Use of state equalization rates, special equalization rates and
  levels  of assessment in making special franchise assessments. 1. Except
  in a special assessing unit, the commissioner shall apply  the  nineteen
  hundred  fifty-three state equalization rate to any portion of the value
  of the special franchise  which  was  assessed  for  the  year  nineteen
  hundred fifty-three; provided, however, that in determining the assessed
  value  of  a special franchise in an assessing unit which, subsequent to
  nineteen hundred fifty-three, has completed a revaluation in  compliance
  with  the standard of assessment of section three hundred five or former
  section three hundred  six  of  this  chapter,  the  commissioner  shall
  provide  the  full  value  of  special franchises to that assessing unit
  pursuant  to  subdivision  two  of  this  section,  notwithstanding  the
  foregoing   exception   for   property   assessed  in  nineteen  hundred
  fifty-three. Whenever the  commissioner  applies  the  nineteen  hundred
  fifty-three  state  equalization rate to any portion of the value of the
  special  franchise  assessments  pursuant  to  this   subdivision,   the
  commissioner  shall  apply the latest state equalization rate or special
  equalization rate to the full value of  all  assessments  of  all  other
  special  franchise property within that assessing unit appearing on that
  assessment roll.
    2. In any assessing unit  which  has  completed  a  revaluation  since
  nineteen hundred fifty-three or which does not contain property that was
  assessed   in  nineteen  hundred  fifty-three,  the  commissioner  shall
  determine the full value of such special franchise as of  the  valuation
  date  of  the assessing unit. Such full value shall be determined by the
  commissioner for purposes of sections six  hundred  eight,  six  hundred
  fourteen  and  six  hundred  sixteen  of this article. These full values
  shall be entered on the assessment roll  at  the  level  of  assessment,
  which  shall  be the uniform percentage of value, as required by section
  five hundred two of this chapter, appearing on the tentative  assessment
  roll  upon  which  the  assessment  is  entered.  Whenever a final state
  equalization rate, or, in the case of a special assessing unit, a  class
  equalization  rate,  is  established  that  is different from a level of
  assessment applied pursuant  to  this  paragraph,  any  public  official
  having custody of that assessment roll is hereby authorized and directed
  to  recompute  these  assessments  to  reflect  that  equalization rate,
  provided such final rate is established by the commissioner at least ten
  days prior to the date for levy of taxes against those assessments.