(a) The assessor shall review the form and, if an arm's-length transfer is reported, shall notify ORPTS and the county director of any errors and correct the same.

(b) If an assessor seeks to correct a sale involving unusual facts or circumstances that may have influenced the sales price, the assessor must provide an explanation of those facts or circumstances. The explanation shall be reviewed by ORPTS to determine whether a correction should be made.

(c) An assessing unit may submit an alternative corrections procedure for approval by ORPTS to be used in lieu of the correction procedure specified in Real Property Tax Law section 574. An alternative corrections procedure may not be used without prior approval by ORPTS; provided, however, that an assessor may authorize the county director of the county in which the assessing unit is located to make corrections by filing a written authorization with ORPTS signed by both the assessor and the county director. Upon the filing of such authorization, the county director shall make all corrections until either the assessor or county director or a successor in office files a written statement with the other official and ORPTS withdrawing the authorization or consent thereto, in which case the assessor shall resume making all corrections.