Section 1202. Establishment of state equalization rates and class ratios and class equalization rates

1.  (a)  Upon  final  completion  of  the
  assessment  roll  of  each city, town and village, the state board shall
  inquire into and ascertain as near as may  be  the  percentage  of  full
  value  at  which  taxable real property in such city, town or village is
  assessed, which percentage as finally determined  as  provided  in  this
  article  shall be the state equalization rate for such roll. In the case
  of a city in a county having a county department of assessment with  the
  power  to  assess  real property, the state board also shall establish a
  state equalization rate for that portion of the county  roll  containing
  the assessments of taxable real property in such city.
    (b)  In  the  case  of  special  assessing units as defined in section
  eighteen hundred one  of  this  chapter,  the  state  board  shall  also
  ascertain for the purposes of article seven of this chapter the ratio of
  the  assessed  valuation  to the full valuation of taxable real property
  for each class of property established under article  eighteen  of  this
  chapter,  which  percentages  as  finally determined as provided in this
  article shall be the class ratios for each such class.
    (c) In the case of special  assessing  units  as  defined  in  section
  eighteen  hundred  one  of this chapter and approved assessing units and
  eligible non-assessing unit villages which have adopted  the  provisions
  of  section nineteen hundred three of this chapter as defined in section
  nineteen hundred one of this chapter,  the  state  board  shall  further
  ascertain,  for  the  purposes  of  section eighteen hundred three-a and
  subdivision three of section nineteen hundred three of this chapter, the
  percentage of full value at which taxable real property  in  each  class
  and  each  class  in each portion has been assessed, which percentage as
  finally determined as provided  in  this  article  shall  be  the  class
  equalization rate for such class or such class in such portion.
    2.  In  establishing  state equalization rates, class ratios and class
  equalization  rates  the  state  board  may,  in  its  discretion,  take
  testimony  and  hear proof under oath or otherwise, and may avail itself
  of all information appearing in its office or acquired in the  discharge
  of  its  duties  and  may employ experts or other persons to procure any
  information required for such purpose.
    3. All state equalization rates,  special  equalization  rates,  class
  ratios  and  class  equalization  rates  established  by the state board
  pursuant to law may be expressed to such number of decimal places as the
  state board may determine, provided that the number  of  decimal  places
  shall  be uniform for all state equalization rates, special equalization
  rates,  class  ratios  and  class  equalization  rates  established  for
  assessment rolls completed in the same calendar year.
    4. For purposes of this article, the assessment roll of a village that
  has  enacted a local law pursuant to the provisions of subdivision three
  of section fourteen hundred two of this chapter shall be the copy of the
  part of the town or county assessment roll used for village tax purposes
  subsequent to the enactment of such local law and the state equalization
  rate established by the state board for the town  or  county  assessment
  roll  shall  be deemed to be the state equalization rate established for
  the village.
    5. State equalization rates established by  the  state  board  may  be
  based  upon  such  market value survey or surveys as the state board may
  designate for that purpose, subject to the following:
    (a) the market value survey or surveys so designated shall be  uniform
  for   state  equalization  rates  established  for  all  city  and  town
  assessment rolls completed in the same calendar year;
    (b) for special assessing  units  and  approved  assessing  units  and
  eligible  non-assessing  unit villages which have adopted the provisions

  of section nineteen hundred three of  this  chapter,  the  market  value
  survey  or  surveys  so  designated for class equalization rates for any
  assessment roll  shall  be  the  same  as  those  designated  for  state
  equalization rates for that assessment roll;
    (c)  the  state equalization rate for the assessment roll of a village
  whose boundaries are coterminous with the boundaries  of  a  union  free
  school  district  shall  be  based  upon the same market value survey or
  surveys as the survey or surveys used for state equalization  rates  for
  city  and  town assessment rolls finally completed and filed in the same
  calendar year as the assessment roll of such village;
    (d) the state  equalization  rate  for  a  village  other  than  those
  villages described in subdivision four of this section and paragraph (b)
  of  this subdivision shall be based upon the same market value survey or
  surveys used for the establishment of the state equalization rate of the
  appropriate town or county assessment roll.