There is a newer version
of
the New York Laws
2019 New York Laws
RPT - Real Property Tax
Article 12-A - Special State Equalization Ratios for Computing Constitutional Tax and Debt Limitations for Cities of One Hundred Twenty-Five Thousand Or
1252 - Manner by Which Ratios Shall Be Determined.
Universal Citation: NY Real Prop Tax L § 1252 (2019)
§ 1252. Manner by which ratios shall be determined. In determining ratios pursuant to this article, the commissioner shall, for the last completed assessment roll and each of the four preceding assessment rolls, determine the ratio of assessed valuation to full valuation as of the first day of January of the fiscal year for which the ratio is 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 ratio 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), 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.
Disclaimer: These codes may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
