N.Y. Real Property Tax Law § 608: Tentative special franchise assessments; notice thereof

§ 608. Tentative special franchise assessments; notice thereof. 1.

Upon completion of its inquiry and investigation with respect to the

value of a special franchise, the commissioner shall determine the

tentative assessment thereof. After determining the tentative assessment

of a special franchise, the commissioner shall give notice in writing to

the special franchise owner and the chief executive officer of each

assessing unit in which such special franchise is situated that such

determination has been made, the amount of such assessment, and that the

commissioner or a duly authorized representative thereof will meet at a

time and place specified in such notice to hear any complaint concerning

such assessment. Any such notice to a town shall also specify the amount

of each special franchise assessment in any village therein. Each such

notice must be served at least thirty days before the day specified for

the hearing. It may be served on the special franchise owner if a

partnership, association or corporation by mailing a copy thereof to its

principal place of business, and if a person, by mailing a copy thereof

to him at his place of business or last known place of residence.

2. The commissioner may establish a separate tentative and final

special franchise value or assessment for physical property that was

omitted when calculating special franchise values for the assessment

roll of the preceding year. Values for omitted property shall be

calculated by the same procedures used by the commissioner when

establishing the values for the roll from which the property was

omitted. Entry of a final assessment of omitted property and the levy of

taxes shall be done in accord with the provisions of section five

hundred fifty-one of this chapter.

3. The commissioner may deduct from the tentative and final values or

assessments of special franchise property an amount for physical

property that was incorrectly included in the values or assessments of

the assessment roll for the preceding year. Any amount deducted pursuant

to this section shall be clearly and separately identified on the notice

of tentative assessments or values and on the certificate of final

assessment.