Section 1261. Determination of ratios of assessed valuation to full valuation

Latest version.

Notwithstanding any general or special law to  the  contrary,
  the  state  board shall annually determine the ratios which the assessed
  valuations of taxable real estate on the last completed assessment rolls
  and the four preceding rolls of each city school district  bear  to  the
  full  valuation  of  such  real  estate for the purpose of computing and
  applying the limitation on local indebtedness pursuant to  section  four
  of article eight of the constitution.

                    
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