§ 489-L — State equalization rate

§ 489-l. State equalization rate. 1. In determining railroad ceilings,\nthe commissioner shall apply the latest state equalization rate for the\nassessing unit, except that, if a special equalization rate has been\nestablished as provided in subdivision two of this section, such rate\nshall be applied. For the purposes of this title, the equalization rate\nto be applied in computing railroad ceilings in the city of New York\nshall be computed by the commissioner on a city-wide basis, giving\nappropriate weight to the latest state equalization rates or special\nequalization rates of the five counties within such city.\n 2. The commissioner shall establish a special equalization rate for\nthe purposes of this section where there has been a change in level of\nassessment on the assessment roll for which a railroad ceiling is to be\ndetermined, subject to the provisions of title two of article twelve of\nthis chapter, or the state equalization rate that would otherwise be\napplied reflects the level of assessment on the property subject to the\nrailroad ceiling or where a final state equalization rate has not been\nestablished for the assessment roll of the preceding year.\n