N.Y. Real Property Tax Law § 489-jj: State equalization rate

§ 489-jj. State equalization rate. 1. In determining railroad

ceilings, the commissioner shall apply the latest state equalization

rate for the appropriate assessing unit, except that, if a special

equalization rate has been established as provided in subdivision two of

this section, such rate shall be applied. For the purposes of this

title, the equalization rate to be applied in computing railroad

ceilings in the city of New York shall be computed by the commissioner

on a city-wide basis, giving appropriate weight to the latest state

equalization rates or special equalization rates of the five counties

within such city.

2. The commissioner shall establish a special equalization rate for

the purposes of this section where there has been a change in level of

assessment on the assessment roll for which a railroad ceiling is to be

determined, subject to the provisions of title two of article twelve of

this chapter, or the state equalization rate that would otherwise be

applied reflects the level of assessment on the property subject to the

railroad ceiling or where a final state equalization rate has not been

established for the assessment roll of the preceding year.