New York Laws
Article 6 - Assessment of Special Franchises
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
levels of assessment in making special franchise assessments. 1. Except
in a special assessing unit, the commissioner shall apply the nineteen
hundred fifty-three state equalization rate to any portion of the value
of the special franchise which was assessed for the year nineteen
hundred fifty-three; provided, however, that in determining the assessed
value of a special franchise in an assessing unit which, subsequent to
nineteen hundred fifty-three, has completed a revaluation in compliance
with the standard of assessment of section three hundred five or former
section three hundred six of this chapter, the commissioner shall
provide the full value of special franchises to that assessing unit
pursuant to subdivision two of this section, notwithstanding the
foregoing exception for property assessed in nineteen hundred
fifty-three. Whenever the commissioner applies the nineteen hundred
fifty-three state equalization rate to any portion of the value of the
special franchise assessments pursuant to this subdivision, the
commissioner shall apply the latest state equalization rate or special
equalization rate to the full value of all assessments of all other
special franchise property within that assessing unit appearing on that
assessment roll.

2. In any assessing unit which has completed a revaluation since
nineteen hundred fifty-three or which does not contain property that was
assessed in nineteen hundred fifty-three, the commissioner shall
determine the full value of such special franchise as of the taxable
status date specified by subdivision four of section three hundred two
of this chapter. Such full value shall be determined by the commissioner
for purposes of sections six hundred eight, six hundred fourteen and six
hundred sixteen of this article. These full values shall be entered on
the assessment roll at the level of assessment, which shall be the
uniform percentage of value, as required by section five hundred two of
this chapter, appearing on the tentative assessment roll upon which the
assessment is entered. Whenever a final state equalization rate, or, in
the case of a special assessing unit, a class equalization rate, is
established that is different from a level of assessment applied
pursuant to this paragraph, any public official having custody of that
assessment roll is hereby authorized and directed to recompute these
assessments to reflect that equalization rate, provided such final rate
is established by the commissioner at least ten days prior to the date
for levy of taxes against those assessments.