§ 305-a. Assessment using the comparable sales, income capitalization
or cost method. 1. As used in this section, the following terms shall
have the following meanings:

(a) "Mixed-use property" means a property with a building or structure
used for both residential and commercial purposes.

(b) "Non-residential property" means a property with a building or
structure used for commercial purposes.

2. When determining the value of a mixed-use or non-residential
property using the comparable sales, income capitalization or cost
method, the following shall be considered when selecting appropriate
sales or rentals comparable to the subject property; provided, however,
that the following requirements shall apply only to assessing units
other than cities having a population of one million or more:

(a) sales or rentals of properties exhibiting similar use or the use
at the time of sale in the same real estate market. Comparable
properties should include properties located in proximate location to
the subject property unless there is an inadequate number of appropriate
sales or rentals within the same market; and

(b) sales or rentals of properties that are similar in age, condition,
use or the use at the time of sale, type of construction, location,
design, physical features and economic characteristics including but not
limited to similarities in occupancy and market rent.