Section 740. Proceeding to review a special franchise assessment

1.  A
  special franchise assessment may be reviewed so far  as  practicable  in
  the  manner  prescribed  by  this article for reviewing an assessment of
  real property.  Notwithstanding any other provision of this  article  to
  the  contrary,  an  assessing  unit may commence a proceeding under this
  section on the ground that the value  of  the  property,  prior  to  the
  application of the equalization rate pursuant to section six hundred six
  of this chapter, is insufficient.  This proceeding shall be consolidated
  with  any  other proceeding commenced under this section by the owner of
  the special franchise.
    2.  A petition and notice shall be served by delivering two copies  to
  a  member  of the state board or to an officer or employee authorized by
  the board to accept service, not more than sixty days after the  written
  notice  of  the  final  assessment  prescribed  by  section  six hundred
  eighteen of this chapter  has  been  served.    Where  a  proceeding  is
  commenced by an assessing unit in which a special franchise is situated,
  an  additional  copy  shall be filed by the petitioner with the owner of
  that special franchise.  Where a proceeding is commenced  by  a  special
  franchise  owner,  the  petitioner, within ten days after service, shall
  file an additional copy with the clerk of the city, town or village  and
  with the clerk of the school district in which that special franchise is
  situated  except a school district governed by the provisions of article
  fifty-two of the education law.
    3.  Upon timely motion, an assessing unit or a special franchise owner
  shall be permitted to intervene in a proceeding commenced by  the  other
  under subdivision one of this section.
    4.    A  proceeding  to review a special franchise assessment shall be
  maintained against the state board and not against any  other  board  or
  officer  unless  otherwise  directed  by  the supreme court or a justice
  thereof.
    5.  An adjudication made in any such proceeding shall be binding  upon
  (a)  the  owner  of  the  special  franchise  in question, (b) the local
  assessors and any ministerial officer who performs  duties  relative  to
  the  collection of the taxes, in the same manner as though they had been
  parties to the proceeding.