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

§ 489-l. State equalization rate. 1. In determining railroad ceilings,

the commissioner shall apply the latest state equalization rate for the

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.