§ 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
commissioner 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.