N.Y. Real Property Tax Law § 1200: Studies for establishing state equalization rates

§ 1200. Studies for establishing state equalization rates. 1. At least

once in every three years in all cities and towns, the commissioner

shall, as part of its procedure for establishing state equalization

rates pursuant to this article, sample the ratio of assessments to

market values for each major type of taxable real property as of the

same date or period of time. In each special assessing unit and each

approved assessing unit which has adopted the provisions of section

nineteen hundred three of this chapter the commissioner shall also

sample the ratio of assessments to market values for each class and each

class in each portion as those terms are defined in section eighteen

hundred two and section nineteen hundred one of this chapter. Upon

completion of each such study, the results thereof shall be filed in the

office of the commissioner as a public record, but until such

completion, the study shall not be a public record and shall not be

subject to the provisions of article six of the public officers law.

2. A study conducted pursuant to subdivision one of this section shall

be known as a "market value survey". Each market value survey shall be

identified by the year containing the date as of which the full value of

taxable real property is estimated for purposes of that market value

survey, which date shall be known as the "valuation date" of that market

value survey.

3. A market value survey conducted pursuant to this section shall be

based upon any data collected or maintained by the commissioner,

including sales data, data made available by local assessors concerning

physical characteristics of parcels, the value of such parcels or the

aggregate full value of some or all of the parcels within the assessing

unit. The commissioner shall promulgate rules to provide that the

quality and accuracy of the data concerning physical characteristics of

the parcels and any other data provided by local assessors are

sufficient for use in the conduct of the market value survey. Where the

commissioner determines that the local data is of sufficient quality and

accuracy for use in the market value survey, the assessing unit shall

provide such data to the commissioner at the commissioner's request.

4. The commissioner shall prepare and submit a report to the governor,

the president pro tem of the senate and the speaker of the assembly

concerning the quality of local assessment practices found through the

market value survey. Such report shall be presented no later than

December thirty-first of the second year following the year in which a

new market value survey is first utilized in the establishment of state

equalization rates pursuant to section twelve hundred two of this

article.

5. For purposes of this article, and any procedure required herein,

the commissioner may determine the aggregate full value of any assessing

unit, portion of an assessing unit or class within an assessing unit in

determining the ratio of assessments to market value in the calculation

of any rate or ratio.