Section 489-L. State equalization rate

1.   In determining railroad
  ceilings, the state board shall apply the latest state equalization rate
  for the assessing unit, except that, if a special equalization rate  has
  been  established  as  provided in subdivision two of this section, such
  rate shall be applied.  For the purposes of this title, the equalization
  rate to be applied in computing railroad ceilings in  the  city  of  New
  York  shall  be computed by the state board on a city-wide basis, giving
  appropriate weight to the latest state  equalization  rates  or  special
  equalization rates of the five counties within such city.
    2. The state board shall establish a special equalization rate for the
  purposes  of  this  section  where  there  has been a change in level of
  assessment on the assessment roll for which a railroad ceiling is to  be
  determined,  subject to the provisions of title two of article twelve of
  this chapter, or the state equalization rate  that  would  otherwise  be
  applied  reflects the level of assessment on the property subject to the
  railroad ceiling or where a final state equalization rate has  not  been
  established for the assessment roll of the preceding year.