N.Y. Real Property Tax Law § 1222: Special equalization rates; state assessments

§ 1222. Special equalization rates; state assessments. 1. (a) If the

commissioner finds that there has been a material change in level of

assessment, it shall determine a special equalization rate for purposes

of the assessment of special franchises and the approval of assessments

of taxable state lands. The commissioner shall adjust the assessments

affected by this special equalization rate and shall notify the

appropriate assessor, county director of real property tax services and

special franchise owner.

(b) Upon receipt of the notice referred to in paragraph (a) of this

subdivision, the assessor shall make the appropriate changes on the

assessment roll. If the notice is received after the filing of the final

assessment roll but at least ten days prior to the last day set by law

for a levy of taxes on that roll, the assessor shall notify the person

or persons having custody and control of the roll for that levy of the

changes to be made thereto and shall provide that person or those

persons with a copy of the notice received by the assessor from the

commissioner. The person or persons shall enter the changes on the roll

and affix the notice from the commissioner.

(c) If the assessor or other local official is unable to make the

appropriate changes within the time provided in paragraph (b) of this

subdivision, and those changes would have increased the taxable assessed

value, the assessor shall determine the amount of assessed valuation

which was not subject to such tax levy and shall enter that amount on

the assessment roll of the succeeding year in the manner provided for

the entry of omitted real property by title three of article five of

this chapter. If those changes would have decreased the assessed value,

correction shall be made in the manner provided for the correction of an

unlawful entry by title three of article five of this chapter.

2. If the commissioner finds that there has been a change in level of

assessment which is not a material change in level of assessment, and if

a request for a special equalization rate is filed with the commissioner

by either the assessing unit or a special franchise owner, the

commissioner shall determine a special equalization rate for assessment

purposes if it can do so not later than ten days prior to the last date

set by law for the levy of taxes. The commissioner shall thereupon

adjust the assessments affected by such special equalization rate and

shall notify the appropriate assessor, county director of real property

tax services and special franchise owners. Upon receipt of this notice,

the assessor or other local official having custody and control of the

assessment roll shall make the appropriate changes on the assessment

roll, as provided in paragraph (b) of subdivision one of this section.