N.Y. Comp. Codes R. & Regs. tit. 20, § 8186-2.12 – Rescission and reestablishment of final equalization rates or ratios.

(a) A final equalization rate or ratio may be rescinded by ORPTS in accordance with the provisions of this section. Grounds for rescission shall be:
1. (1) a failure to comply with the applicable law, statutory or regulatory, in the establishment of the final rate or ratio;
2. (2) a change in the reported total assessed value, or total initial assessed value, of taxable real property caused by a corrected assessor's report or a court ordered reduction in one or more assessments; or
3. (3) a significant error made in the computation of the final rate or ratio. A significant error is an error the correction of which results in a percent difference between the final rate or ratio and the recalculated final rate or ratio equal to or greater than two percent. Significant errors include, but are not limited to, mistakes in transcription from an original record, transposition of numbers and mathematical errors. Significant errors do not include matters requiring the exercise of judgment or discretion.
(b) ORPTS or any municipal official authorized to file a complaint on a tentative equalization rate or ratio pursuant to section 8186-15.2 of this Part may request the rescission of a final equalization rate or ratio. Any such request by a municipal official must be made in writing to ORPTS. The municipal official filing the request shall receive notice of the determination.
(c) In addition to the reasons set forth in subdivision (a) of this section, if ORPTS believes that a final equalization rate or ratio would be manifestly unjust because its use would result in an inequitable apportionment of taxes or the assessment or real property at an inappropriate level, ORPTS may, upon notice to the clerk of the assessing unit, rescind the final equalization rate or ratio.
(d) In rescinding final rates and ratios, ORPTS will comply with the provisions of Subpart 8186-15 of this Part so far as practicable.
(e) No final equalization rate or ratio shall be rescinded and a new equalization rate or ratio established where either:
1. (1) recomputation of a new rate or ratio results in a percentage change of less than two percent; or
2. (2) the final equalization rate has been used to apportion any levy of taxes or to determine class tax shares.