Section 589. Change in allocation factor

1.  The  allocation  factor
  determined in subdivision one of section five hundred eighty-six of this
  title shall remain in effect for at least twenty years from the date  it
  is initially certified to the assessing unit.
    2.  At any time after twenty years from the date the allocation factor
  is initially certified to the assessing unit, upon the  request  of  the
  city  or the owner of the parcel burdened by the easement, the office of
  real property services may compute and certify a new  allocation  factor
  based  on  a  change  in  circumstances.  A  request for a review of the
  allocation factor shall be made by submitting to the state board  (a)  a
  written  request  by  the  landowner,  (b) a written request by the city
  setting forth  the  claimed  change  in  circumstances,  (c)  a  written
  stipulation entered into by the city and the landowner setting forth the
  new  allocation factor, or (d) an appraisal or appraisals performed by a
  licensed real estate appraiser within one  year  of  submission  setting
  forth the current fair market value of the easement and the current fair
  market   value  of  the  land  subject  to  the  easement  exclusive  of
  improvements and unencumbered by the easement.   The state  board  shall
  define  the  changes  in circumstances required to change the allocation
  factor.  The party seeking the change in allocation factor shall provide
  copies of the appraisals and written request to the other party.
    3. If one party objects to a change  in  the  allocation  factor,  the
  party  may  submit  the  appraisals specified in subdivision two of this
  section within ninety days of receipt of the other parties' appraisal or
  written request.
    4. The office of real property services  shall  review  the  materials
  submitted  and  issue  a  current  allocation  factor  determined by the
  materials submitted.
    5. If judicial review is sought to  challenge  a  determination  under
  this  section,  the action shall be commenced in the county in which the
  real property is located.