2023 New York Laws › RPT - Real Property Tax › Article 12 - State Equalization › Title 1 - State Equalization Rates › 1200 - Studies for Establishing State Equalization Rates.

§ 1200. Studies for establishing state equalization rates. 1. At least
  once  in  every  three  years  in all cities and towns, the commissioner
  shall, as part of its  procedure  for  establishing  state  equalization
  rates  pursuant  to  this  article,  sample  the ratio of assessments to
  market values for each major type of taxable real  property  as  of  the
  same  date  or  period  of time. In each special assessing unit and each
  approved assessing unit which has  adopted  the  provisions  of  section
  nineteen  hundred  three  of  this  chapter  the commissioner shall also
  sample the ratio of assessments to market values for each class and each
  class in each portion as those terms are  defined  in  section  eighteen
  hundred  two  and  section  nineteen  hundred  one of this chapter. Upon
  completion of each such study, the results thereof shall be filed in the
  office  of  the  commissioner  as  a  public  record,  but  until   such
  completion,  the  study  shall  not  be a public record and shall not be
  subject to the provisions of article six of the public officers law.
2. A study conducted pursuant to subdivision one of this section shall
  be known as a "market value survey". Each market value survey  shall  be
  identified by the year containing the date as of which the full value of
  taxable  real  property  is  estimated for purposes of that market value
  survey, which date shall be known as the "valuation date" of that market
  value survey.
3. A market value survey conducted pursuant to this section  shall  be
  based  upon  any  data  collected  or  maintained  by  the commissioner,
  including sales data, data made available by local assessors  concerning
  physical  characteristics  of  parcels, the value of such parcels or the
  aggregate full value of some or all of the parcels within the  assessing
  unit.  The  commissioner  shall  promulgate  rules  to  provide that the
  quality and accuracy of the data concerning physical characteristics  of
  the  parcels  and  any  other  data  provided  by  local  assessors  are
  sufficient for use in the conduct of the market value survey. Where  the
  commissioner determines that the local data is of sufficient quality and
  accuracy  for  use  in the market value survey, the assessing unit shall
  provide such data to the commissioner at the commissioner's request.
4. The commissioner shall prepare and submit a report to the governor,
  the president pro tem of the senate and  the  speaker  of  the  assembly
  concerning  the  quality of local assessment practices found through the
  market value survey. Such  report  shall  be  presented  no  later  than
  December  thirty-first  of the second year following the year in which a
  new market value survey is first utilized in the establishment of  state
  equalization  rates  pursuant  to  section  twelve  hundred  two of this
  article.
5. For purposes of this article, and any  procedure  required  herein,
  the commissioner may determine the aggregate full value of any assessing
  unit,  portion of an assessing unit or class within an assessing unit in
  determining the ratio of assessments to market value in the  calculation
  of any rate or ratio.