Section 1516-A. Fixing of tax rates

Notwithstanding the provisions of
  sections fifteen hundred sixteen, fifteen hundred seventeen and  fifteen
  hundred eighteen or any other provisions of law to the contrary:
    (a)  If  the  city council has not fixed the tax rates for the ensuing
  fiscal year pursuant to section fifteen hundred sixteen on or before the
  fifth day of June, the commissioner of finance shall  be  authorized  to
  complete  the  assessment rolls using estimated rates and to collect the
  sums therein mentioned according to law. The estimated rates shall equal
  the tax rates for the current fiscal year.
    (b) If, subsequent to the  fifth  day  of  June,  the  council  shall,
  pursuant  to  section fifteen hundred sixteen, fix the tax rates for the
  ensuing fiscal year at percentages differing from the  estimated  rates,
  real  estate  tax  payments  shall nevertheless be payable in accordance
  with subdivision a of this section at the estimated rates.  However,  in
  such  event,  prior to the first day of January in such fiscal year, the
  commissioner of finance shall cause the completed assessment rolls to be
  revised to reflect the tax  rates  fixed  by  the  council  pursuant  to
  section fifteen hundred sixteen, and an amended bill for the installment
  or  installments  for  such  fiscal year due and payable on or after the
  first day of January shall  be  submitted  to  each  taxpayer  in  which
  whatever  adjustment  may  be required as a result of the estimated bill
  previously submitted to the taxpayer shall be reflected.