Section 822. Alternative method of effectuating revised county equalization

Upon request of the governing body of a city or town, a deficiency which
  is  to be added to the county taxes against the property in such city or
  town under section eight hundred twenty of this chapter shall  be  added
  in  not more than five equal annual installments beginning with the next
  county tax levy. In such event, the excess determined for  the  property
  in  any  city  or  town  under such section shall be subtracted from the
  county taxes levied thereon in amounts adjusted so that the total of the
  deficiencies added and the total of the  excesses  subtracted  shall  be
  equal in each such levy. Such installments shall bear no interest.