ยง 305. Assessment methods and standard. 1. The existing assessing
methods in effect in each assessing unit on the effective date of this
section may continue.
2. All real property in each assessing unit shall be assessed at a
uniform percentage of value (fractional assessment) except that, if the
administrative code of a city with a population of one million or more
permitted, prior to January first, nineteen hundred eighty-one, a
classified assessment standard, such standard shall govern unless such
city by local law shall elect to be governed by the provisions of this
section.
3. Any assessing unit in which assessments are at full value by reason
of a revaluation may adopt a level of assessment in accordance with this
section.