Section 1218. Review of final determinations of state board relating to state equalization rates

A  final  determination  of  the  state  board
  relating  to  state  equalization rates may be reviewed by commencing an
  action in the appellate division of the  supreme  court  in  the  manner
  provided  by  article  seventy-eight of the civil practice law and rules
  upon application of the county, city, town or village for which the rate
  or rates were established. The standard of review in such  a  proceeding
  shall  be  as  specified  in  subdivision  four of section seventy-eight
  hundred three of the civil practice law  and  rules.  Whenever  a  final
  order  is  issued  in  such  a  proceeding  directing  a  revised  state
  equalization rate, any county, village or school district that used  the
  former  rate  in  the  apportionment of taxes must, upon receipt of such
  final order, recalculate the levy that used such former rate and  credit
  or debit as appropriate its constituent municipalities in its next levy.
  Any special franchise assessments that were established using the former
  rate  must,  upon  receipt  of such final order, be revised by the state
  board in accordance with the new rate, and, if taxes have  already  been
  levied  upon  such  assessments,  the  affected special franchise owners
  shall either automatically receive a refund if there is a decrease or be
  taxed on an increase in the next levy in the manner provided for omitted
  parcels in title three of article five of this chapter.