§ 1261. Determination of ratios of assessed valuation to full
valuation. Notwithstanding any general or special law to the contrary,
the commissioner shall annually determine the ratios which the assessed
valuations of taxable real estate on the last completed assessment rolls
and the four preceding rolls of each city school district bear to the
full valuation of such real estate for the purpose of computing and
applying the limitation on local indebtedness pursuant to section four
of article eight of the constitution.