N.Y. Real Property Tax Law § 305: Assessment methods and standard

§ 305. Assessment methods and standard. 1. The existing assessing

methods in effect in each assessing unit on the effective date of this

section may continue.

2. All real property in each assessing unit shall be assessed at a

uniform percentage of value (fractional assessment) except that, if the

administrative code of a city with a population of one million or more

permitted, prior to January first, nineteen hundred eighty-one, a

classified assessment standard, such standard shall govern unless such

city by local law shall elect to be governed by the provisions of this

section.

3. Any assessing unit in which assessments are at full value by reason

of a revaluation may adopt a level of assessment in accordance with this

section.