(a) ORPTS may rescind approved assessments, other than assessments for taxable conservation or common law easements, aggregate additional assessments and transition assessments, and approve revision of these assessments at any time prior to the annexation of the last warrant for the collection of any tax to be imposed upon those assessments if:

1. (1) there has been a clerical error, an error in essential fact, an omission or an unlawful entry as those terms are defined in section 550 of the Real Property Tax Law; or
2. (2) a special equalization rate is established for the current roll; or
3. (3) the special equalization rate for the current roll is rescinded and, if necessary, reestablished; or
4. (4) the State equalization rate for the prior roll is rescinded and reestablished.

(b) ORPTS may rescind approved assessments for taxable conservation or common law easements and approve revision of these assessments at any time prior to the payment of taxes by the State Comptroller if:

1. (1) there has been a clerical error, an error in essential fact, an omission or an unlawful entry as those items are defined in section 550 of the Real Property Tax Law; or
2. (2) the assessed value of the parcel encumbered by the easement has changed since the submission of the preliminary list pursuant to section 8199-4.3 of this Part.