§ 1252 — Manner by which ratios shall be determined

§ 1252. Manner by which ratios shall be determined. In determining\nratios pursuant to this article, the commissioner shall, for the last\ncompleted assessment roll and each of the four preceding assessment\nrolls, determine the ratio of assessed valuation to full valuation as of\nthe first day of January of the fiscal year for which the ratio is\napplicable. Each ratio shall be determined on the basis of the market\nvalue survey completed pursuant to article twelve of this chapter and\nfor which the valuation date is the first day of January of each\napplicable year. In the event that a market value survey has not been\ncompleted based upon each such valuation date, the commissioner shall\ndetermine the ratios in the following manner:\n (a) compute the ratio of assessed valuation to the full valuation of\ntaxable real estate on the basis of market value surveys completed\npursuant to article twelve of this chapter;\n (b) on the basis of the ratios computed pursuant to subdivision (a),\nproject increases or decreases in the ratios for years for which the\ninformation has not been developed pursuant to article twelve of this\nchapter;\n (c) avail itself of appropriate market value information appearing in\nits office or acquired in the discharge of its duties pursuant to this\nchapter.\n