§ 1222 — Special equalization rates; state assessments

§ 1222. Special equalization rates; state assessments. 1. (a) If the\ncommissioner finds that there has been a material change in level of\nassessment, it shall determine a special equalization rate for purposes\nof the assessment of special franchises and the approval of assessments\nof taxable state lands. The commissioner shall adjust the assessments\naffected by this special equalization rate and shall notify the\nappropriate assessor, county director of real property tax services and\nspecial franchise owner.\n (b) Upon receipt of the notice referred to in paragraph (a) of this\nsubdivision, the assessor shall make the appropriate changes on the\nassessment roll. If the notice is received after the filing of the final\nassessment roll but at least ten days prior to the last day set by law\nfor a levy of taxes on that roll, the assessor shall notify the person\nor persons having custody and control of the roll for that levy of the\nchanges to be made thereto and shall provide that person or those\npersons with a copy of the notice received by the assessor from the\ncommissioner. The person or persons shall enter the changes on the roll\nand affix the notice from the commissioner.\n (c) If the assessor or other local official is unable to make the\nappropriate changes within the time provided in paragraph (b) of this\nsubdivision, and those changes would have increased the taxable assessed\nvalue, the assessor shall determine the amount of assessed valuation\nwhich was not subject to such tax levy and shall enter that amount on\nthe assessment roll of the succeeding year in the manner provided for\nthe entry of omitted real property by title three of article five of\nthis chapter. If those changes would have decreased the assessed value,\ncorrection shall be made in the manner provided for the correction of an\nunlawful entry by title three of article five of this chapter.\n 2. If the commissioner finds that there has been a change in level of\nassessment which is not a material change in level of assessment, and if\na request for a special equalization rate is filed with the commissioner\nby either the assessing unit or a special franchise owner, the\ncommissioner shall determine a special equalization rate for assessment\npurposes if it can do so not later than ten days prior to the last date\nset by law for the levy of taxes. The commissioner shall thereupon\nadjust the assessments affected by such special equalization rate and\nshall notify the appropriate assessor, county director of real property\ntax services and special franchise owners. Upon receipt of this notice,\nthe assessor or other local official having custody and control of the\nassessment roll shall make the appropriate changes on the assessment\nroll, as provided in paragraph (b) of subdivision one of this section.\n