N.Y. Real Property Tax Law § 1252: Manner by which ratios shall be determined

§ 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.