N.Y. Comp. Codes R. & Regs. Tit. 20 §§ 8197-4.1

Current through Register Vol. 46, No. 53, December 31, 2024

Section 8197-4.1 - Rescission of tentative special franchise assessment or full value

(a) The tentative special franchise assessment shall be rescinded by ORPTS if:

(1) it is ascertained prior to the establishment of the final special franchise assessment that procedures or data which were defective in a significant respect were relied upon in the determination of the tentative special franchise assessment and if a written complaint is not filed by the assessing unit or special franchise owner as provided by section 610 of the Real Property Tax Law;

(2) at the time that the tentative assessment was determined, the assessing unit had been expected to complete a revaluation, but it is no longer expected that the assessing unit will complete a revaluation;

(3) at the time that the tentative assessment was determined, the assessing unit had not been expected to complete a revaluation, but it is now expected that the assessing unit will complete a revaluation; or

(4) subsequent to the establishment of the tentative special franchise assessment a special equalization rate was established pursuant to section 606 of the Real Property Tax Law.

(b) A new tentative special franchise assessment shall be simultaneously determined, according to this Subpart and the correct procedures or data.

(c) The tentative special franchise full value shall be rescinded by ORPTS if:

(1) it is ascertained prior to the establishment of the final special franchise full value that procedures or data which were defective in a significant respect were relied upon in the determination of the tentative special franchise full value and if a written complaint is not filed by the assessing unit or special franchise owner as provided by section 610 of the Real Property Tax Law;

(d) A new tentative special franchise full value shall be simultaneously determined, according to this Subpart and the correct procedures or data.

N.Y. Comp. Codes R. & Regs. Tit. 20 §§ 8197-4.1