N.Y. Real Prop. Tax Law § 305-a

§ 305-a. Assessment using the comparable sales, income capitalization\nor cost method. 1. As used in this section, the following terms shall\nhave the following meanings:\n (a) "Mixed-use property" means a property with a building or structure\nused for both residential and commercial purposes.\n (b) "Non-residential property" means a property with a building or\nstructure used for commercial purposes.\n 2. When determining the value of a mixed-use or non-residential\nproperty using the comparable sales, income capitalization or cost\nmethod, the following shall be considered when selecting appropriate\nsales or rentals comparable to the subject property; provided, however,\nthat the following requirements shall apply only to assessing units\nother than cities having a population of one million or more:\n (a) sales or rentals of properties exhibiting similar use or the use\nat the time of sale in the same real estate market. Comparable\nproperties should include properties located in proximate location to\nthe subject property unless there is an inadequate number of appropriate\nsales or rentals within the same market; and\n (b) sales or rentals of properties that are similar in age, condition,\nuse or the use at the time of sale, type of construction, location,\ndesign, physical features and economic characteristics including but not\nlimited to similarities in occupancy and market rent.\n