NY Real Prop Tax L § 1227 (2021)
2021 New York Laws RPT - Real Property Tax Article 12 - State Equalization Title 2 - Special Equalization Rates 1227 - Rates for Apportionment Purposes; Full Value Adjustments.

§  1227.  Rates for apportionment purposes; full value adjustments. 1. If a nuclear powered electric generating facility, as defined by section four hundred eighty-five of this chapter, is exempt  from  taxation  for all  purposes  pursuant  to  section  four  hundred  eighty-five of this chapter, the facility shall be deemed to be wholly exempt real  property for  purposes  of this article. If such a facility is not exempt for all purposes, it shall be deemed to be taxable real property for purposes of this article.   2. (a) When a nuclear powered electric generating facility  is  exempt from  taxation  for  school  district  purposes pursuant to section four hundred eighty-five of this chapter,  but  it  is  not  exempt  for  all purposes,  the commissioner shall establish a special apportionment rate for the assessing unit containing the facility, which rate shall be used for purposes of apportioning school district  taxes  to  that  assessing unit  pursuant  to  section  thirteen  hundred fourteen of this chapter, subject  to  the  provisions  of  paragraph  (b)  of  this  subdivision. Provided,  however,  that  no  such  rate shall be established unless it would result in a change of two percent or more  in  the  share  of  the school  district levy allocated to at least one school district segment, or where applicable  in  the  share  of  the  non-homestead  class  levy allocated to at least one portion.  (b)  When  there  is  another  such  facility  located within the same assessing unit but within a different school district, and such facility is not exempt from taxation for purposes of that  school  district,  the commissioner  may  establish  a different special apportionment rate for purposes of apportioning the  taxes  of  the  school  district  to  that assessing unit.   3.  When a nuclear powered electric generating facility is exempt from taxation  for  county  purposes  pursuant  to   section   four   hundred eighty-five  of this chapter, but it is not exempt for all purposes, the commissioner shall  establish  a  special  apportionment  rate  for  the assessing  unit  containing  the  facility  for purposes of establishing county equalization rates pursuant to title two of article eight of this chapter. Provided, however, no such rate shall be established unless  it would  result  in  a  change  of two percent or more in the share of the county levy allocated to any city or town within the  county,  or  where applicable,  in  the  share of the non-homestead class levy allocated to any portion.   4. When the commissioner has established a special apportionment  rate pursuant  to  this  section,  the affected county or school district may request a full value adjustment from the commissioner. Any such  request must  be  submitted no later than thirty days prior to the last date set by law for the first tax levy involving such rate. Where such a  request is  granted,  the  commissioner  shall  issue  a  series  of  full value adjustments over a five-year period, which  shall  have  the  effect  of phasing in over that period the impact of the special apportionment rate upon the tax levy.