N.Y. Comp. Codes R. & Regs. Tit. 20 §§ 8186-2.16

Current through Register Vol. 46, No. 50, December 11, 2024

Section 8186-2.16 - Adjustment of aggregate full values for changes in market conditions

(a) When ORPTS has accepted or determined an aggregate full value estimate of an assessing unit, this estimate may be adjusted, in whole or in part, to another valuation date. This may be done with the use of factors which reflect changes in market value.

(b) Factors which are used to adjust aggregate full value estimates will be identified by the type of property, market area, and time frame for which they apply.

(c) Factors developed for this purpose will be determined based upon an analysis of data, and using both ORPTS and local official knowledge of real estate market conditions.

N.Y. Comp. Codes R. & Regs. Tit. 20 §§ 8186-2.16