NYC Administrative Code

§ 11-212 — Power of the commissioner of finance to equalize assessments before opening books.

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What is NYC AC § 11-212?

Quick Answer

This section grants the commissioner of finance the authority to establish equitable property valuations for taxation purposes before the annual assessment books are opened. The commissioner aims to ensure fairness across boroughs. Applies to property owners subject to city taxation.

General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.

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§ 11-212 Power of the commissioner of finance to equalize assessments before opening books.

AC § 11-212

a. Before opening the several books of annual record of assessed valuation for public inspection, the commissioner of finance shall fix the valuations of property for the purpose of taxation throughout the city at such sums 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. b. To this end the assessors or other persons having charge of the borough offices are required to transmit to the commissioner of finance in each year a report of the assessed valuation of real property in the several boroughs at such time prior to the fifteenth day of January as such commissioner may prescribe.

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