§ 606 — Use of state equalization rates, special equalization rates and levels of assessment in making special franchise assessments

§ 606. Use of state equalization rates, special equalization rates and\nlevels of assessment in making special franchise assessments. 1. Except\nin a special assessing unit, the commissioner shall apply the nineteen\nhundred fifty-three state equalization rate to any portion of the value\nof the special franchise which was assessed for the year nineteen\nhundred fifty-three; provided, however, that in determining the assessed\nvalue of a special franchise in an assessing unit which, subsequent to\nnineteen hundred fifty-three, has completed a revaluation in compliance\nwith the standard of assessment of section three hundred five or former\nsection three hundred six of this chapter, the commissioner shall\nprovide the full value of special franchises to that assessing unit\npursuant to subdivision two of this section, notwithstanding the\nforegoing exception for property assessed in nineteen hundred\nfifty-three. Whenever the commissioner applies the nineteen hundred\nfifty-three state equalization rate to any portion of the value of the\nspecial franchise assessments pursuant to this subdivision, the\ncommissioner shall apply the latest state equalization rate or special\nequalization rate to the full value of all assessments of all other\nspecial franchise property within that assessing unit appearing on that\nassessment roll.\n 2. In any assessing unit which has completed a revaluation since\nnineteen hundred fifty-three or which does not contain property that was\nassessed in nineteen hundred fifty-three, the commissioner shall\ndetermine the full value of such special franchise as of the taxable\nstatus date specified by subdivision four of section three hundred two\nof this chapter. Such full value shall be determined by the commissioner\nfor purposes of sections six hundred eight, six hundred fourteen and six\nhundred sixteen of this article. These full values shall be entered on\nthe assessment roll at the level of assessment, which shall be the\nuniform percentage of value, as required by section five hundred two of\nthis chapter, appearing on the tentative assessment roll upon which the\nassessment is entered. Whenever a final state equalization rate, or, in\nthe case of a special assessing unit, a class equalization rate, is\nestablished that is different from a level of assessment applied\npursuant to this paragraph, any public official having custody of that\nassessment roll is hereby authorized and directed to recompute these\nassessments to reflect that equalization rate, provided such final rate\nis established by the commissioner at least ten days prior to the date\nfor levy of taxes against those assessments.\n