Section 1216. Establishment of state equalization rates for supplemental assessment rolls for school purposes; computation of full valuation for school districts using supplemental assessment rolls

1.  Where  a
  supplemental assessment roll has  been  completed,  verified  and  filed
  pursuant  to  section  thirteen hundred thirty-five of this chapter, the
  state board shall determine an equalization rate for  such  supplemental
  assessment  roll  in the manner provided in this article for determining
  equalization rates for towns.  The equalization rate so  determined  for
  the  supplemental assessment roll shall be used in computing the taxable
  full valuation of real property on the supplemental assessment roll  for
  all  school  district  purposes  except as otherwise provided in section
  thirteen hundred fourteen of this chapter.
    2. The full valuation of taxable property for school district purposes
  for a fiscal year of a school district in which supplemental  assessment
  rolls  were  completed,  verified and filed pursuant to section thirteen
  hundred thirty-five of this chapter for such fiscal year, shall  be  the
  simple  average of the full valuation of taxable property on the regular
  and supplemental assessment rolls  of  such  school  district  for  such
  fiscal  year,  provided however, that such supplemental assessment rolls
  shall not be used in determining limitations on indebtedness pursuant to
  the local finance law. Such full valuation shall be  computed  for  each
  roll by dividing the taxable assessed valuation on each such roll by the
  state equalization rate established for each such roll.