N.Y. Real Property Tax Law 1221 – Computation of change in level of assessment
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§ 1221. Computation of change in level of assessment. Upon the receipt of an assessor's annual report, filed pursuant to section five hundred seventy-five of this chapter, which complies with the rules of the commissioner, the commissioner shall compute the change in level of assessment that has occurred, if any.
Terms Used In N.Y. Real Property Tax Law 1221
- Change in level of assessment: means the net percentage increase or decrease in the assessed valuation of all taxable real property in an assessing unit from one final assessment roll to the next, other than increases or decreases in the assessed valuation of special franchises, transportation properties of railroads subject to a ceiling assessment, wholly exempt properties, and other than increases or decreases in value attributable to physical or quantity changes in the property. See N.Y. Real Property Tax Law 1220