New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter XVI - Real Property Tax Administration › Part 8186 - State Equalization Rates, Ratios And Adjustments › Subpart 8186-2 - State Equalization Rates › Section 8186-2.15 - Analysis of aggregate full values

Current through Register Vol. 46, No. 28, July 10, 2024
(a) This section shall apply to measurements
				  of full value described in sections
				  8186-1.15
				  and
				  8186-1.16 
				  of this Part.
(b) Confirmation of
				  aggregate full value estimates for assessment rolls implementing revaluation or
				  updates.
(1) ORPTS shall review the valuation
				  data and processes used in a revaluation or update project in order to confirm
				  that the aggregate full value appearing on the assessment roll implementing the
				  revaluation or update represents a reasonable estimate of the aggregate full
				  value of the assessing unit as of the valuation date of the revaluation or
				  update. In addition, where sufficient data is available, ORPTS shall conduct
				  appropriate statistical tests as provided in the procedures of the appropriate
				  market value survey to confirm the level of assessment.
(2) ORPTS will perform, as a minimum, the
				  following as part of the process to confirm the aggregate full value of the
				  assessing unit.
(i) For revaluations or
				  updates implemented on assessment rolls with final completion dates on or after
				  January 1, 1997, ORPTS may review the valuation processes or data as they are
				  being implemented or compiled. At the conclusion of this process ORPTS may
				  accept, in whole or in part, the aggregate full value of the assessing unit
				  determined through the revaluation or update.
(ii) For revaluations or updates which ORPTS
				  has not reviewed while being undertaken as provided in subparagraph (i) of this
				  paragraph, ORPTS will review the documentation used in the valuation of
				  parcels. In addition, ORPTS may review the changes in value which occur between
				  the time of the initial valuation and the final assessment roll implementing
				  the revaluation or update. At the conclusion of this process, ORPTS may accept,
				  in whole or in part, the aggregate full value of the assessing unit.
(iii) For revaluations or updates implemented
				  on assessment rolls with final completion dates in 1994, ORPTS will use any
				  review of valuation data which was done as part of the 1994 market value
				  survey. Where the revaluation or update valuation data was used for the 1994
				  survey, it will be accepted for use in determining the 1996 full value
				  measurement.
(iv) For revaluations
				  or updates implemented on assessment rolls with final completion dates in 1995
				  or subsequent years, sales may be used to confirm the valuation work in a major
				  type in accordance with the appropriate market value survey
				  procedures.
(v) For reassessments
				  completed in 2001 and later, ORPTS may provide, as described in "Local
				  Reassessment Project Review and Analysis" or a similar publication or
				  procedure, for an analysis of uniformity of assessments in each reassessment.
				  This analysis may include, but is not limited to, statistical tests recognized
				  by professional appraisal and assessment administration organizations for the
				  determination of uniformity of assessments. Specific provision shall be made
				  for the recognition of parcels or classes for which a well-defined market does
				  not exist. This analysis shall include a determination of whether the
				  reassessment involved sufficient data, accepted valuation methodologies and
				  rational valuation judgments.
(3) When the aggregate full value from the
				  revaluation or update cannot be used in its entirety, ORPTS may adjust the
				  aggregate full value or determine an independent estimate of full value. The
				  adjustment or independent estimate may be done for the entire assessing unit, a
				  set of properties, or an individual parcel. When making adjustments or
				  determining independent estimates ORPTS may rely upon the use of appraisals,
				  sales or other available data.