N.Y. Comp. Codes R. & Regs. Tit. 20 §§ 8186-9.5

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

Section 8186-9.5 - Determination of adjusted base proportions

(a) The legislative body of each special assessing unit shall establish adjusted base proportions to be applied in the levy of taxes pursuant to section 1803-a of the Real Property Tax Law. For each class in the special assessing unit or portion thereof, the adjusted base proportion shall be the current base proportion adjusted for physical or quantity changes, changes in exemption or changes in class designations that have occurred subsequent to the taxable status date of the reference roll as provided herein.

(b) The legislative body may establish a procedure, subject to the approval of ORPTS, for making these adjustments. Where no locally applicable procedure has been established or approved when the adjusted base proportions are certified, the legislative body shall adjust the current base proportions in the following manner:

(1) A change in level of assessment factor shall be computed for each class and each portion class as follows:

(i) Determine the physical or quantity decrease for the class or portion class by summing the decreases due to physical or quantity changes in the class or portion class, excluding special franchise properties in class three, from the reference roll to the levy roll;

(ii) Determine the surviving total assessed value of the class or portion class by subtracting the physical or quantity decrease so determined from the total assessed value of the class or portion class, excluding special franchise properties in class three, on the reference roll;

(iii) Determine the net equalization change of the class or portion class by separately summing the increases and decreases for equalization, excluding special franchise properties in class three, and subtracting the sum of the decreases from the sum of the increases;

(iv) Determine the change in level of assessment factor by dividing the net equalization change by the surviving total assessed value of the class or portion class, expressing the quotient to at least four places to the right of the decimal point, and adding one to the quotient so determined.

(2) The taxable assessed value of the property on the levy roll, at the reference roll level of assessment, shall be computed for each class and portion class as follows:

(i) Divide the taxable assessed value of the property in the class or portion class on the levy roll, excluding special franchise properties in class three, by the appropriate change in level of assessment factor.

(ii) For class three, add to the quotient so determined the taxable assessed value of any special franchise properties in the class or portion class on the levy roll, at the reference roll level of assessment. Such taxable assessed value shall be computed by ORPTS and provided to the legislative body of the special assessing unit no later than five days before the last date provided by law for the filing of the levy roll or 30 days prior to the last date provided by law for the levy of taxes, whichever is sooner. The provisions of Part 8197 of this Title shall apply to the extent practicable to the computation of such taxable assessed value; provided, however, that the inventory to be valued shall be the inventory applicable to the levy roll, but the valuation standard and State equalization rate to be applied shall be the same as if the property were being assessed for the reference roll.

(3) An adjustment factor for class quantity changes shall be computed for each class and portion class by dividing (i) the taxable assessed value of the class or portion class on the levy roll, at the reference roll level of assessment (i.e., the taxable assessed value determined pursuant to the preceding paragraph), by (ii) the taxable assessed value of the class or portion class on the reference roll, including special franchise properties in class three.

(4) The adjusted base proportions for the special assessing unit and each portion thereof shall be computed as follows:

(i) Multiply the current base proportion of each class or portion class by the appropriate adjustment factor.

(ii) Sum the products so determined. If the sum is not 1.0000 for the special assessing unit or portion thereof, divide each class product by such sum.

(c) The sum of the adjusted base proportions for the special assessing unit or portion thereof must equal one and each adjusted base proportion must be expressed as a percentage to at least four places to the right of the decimal point.

N.Y. Comp. Codes R. & Regs. Tit. 20 §§ 8186-9.5