Section 489-JJ. State equalization rate

1.   In determining railroad
  ceilings, the state board shall apply the latest state equalization rate
  for  the  appropriate  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.