The NYS Office of Real Property Tax Services (ORPTS) computes equalization rates by dividing the total assessed value of all taxable real property by an estimated total full (market) value of property in a municipality. By law, the equalization rates are used to apportion taxes in taxing jurisdictions that cross municipal boundaries. These taxing jurisdictions may be school districts or the county. To view equalization rates by County, visit New York State Office of Real Property Tax Services Equalization and Tax Levy Distribution.
Residential Assessment Ratios (RARs) are determined by ORPTS and used by Assessors as a general measure of assessment equity and by taxpayers in board of assessment review grievances and/or small claims hearings. All arm’s length residential sales in a municipality are used to determine the RAR. A ratio is determined by dividing the assessed value of a parcel by its sale price. The ratios are then sorted from high to low and the middle (median) ratio becomes the RAR. RARs are not issued if a municipality is conducting a revaluation or if a municipality has fewer than 5 usable residential sales in a given year.
The RAR is certified by the State Board no later than sixty days prior to the last day provided by law for the filing of the tentative assessment roll. The certified RAR and the number of sales used in its calculation are sent to the Office of Court Administration and to the appropriate County Director, County Clerk and Assessor. An informational copy is forwarded to the Chief Executive Officer of the assessing unit. For more information on RARs, including Residential Assessment Ratios by County, visit ORPTS Residential Assessment Ratios by County.
The Level of Assessment (LOA) is the percentage of full (market) value at which properties are assessed within a community. For instance, an LOA of 50% would indicate that assessments are at half of the market value. An LOA of 100% represents a community that is assessing at full market value. The LOA is determined by the local assessor. The LOA of any municipality can be found on the assessment roll and on the tax bill. For more information on the Level of Assessment and how it is determined, visit ORPTS Locally Stated Level of Assessment.