§ 37-02 Definitions.
RCNY § 37-02
When used in these rules: Commissioner. "Commissioner" shall mean the Commissioner of Finance of the City of New York. Department. "Department" shall mean the New York City Department of Finance. Equalization. "Equalization" shall mean the process by which the Commissioner of Finance fixes the valuations of property throughout the City of New York for purposes of taxation in such amounts as will, in the Commissioner's judgment, establish a just and equal relation between the valuations of property in each borough and throughout the entire City. Property Division. "Property Division" shall mean the division of the New York City Department of Finance that is responsible for the assessment of real property in the City of New York. Residential real property. "Residential real property" shall include all real property defined as class one or class two property pursuant to § 1802 of the Real Property Tax Law. Tentative assessed valuation. "Tentative assessed valuation" shall mean the valuation of real property by the Department of Finance for purposes of taxation of real property in the City of New York that appears on the books of the annual record of assessed valuation during the period in which such books are open for public inspection pursuant to Section 1510 of the Charter and which shall be applicable to the succeeding fiscal year.
