(a) Village assessors and the assessors of the Cities of Glen Cove and Long Beach, Nassau County, shall review all real property transfer reports and where an arm's-length transfer of real property improved by a one-, two- or three-family residential structure is reported shall notify ORPTS of any corrections which must be made to conform the assessment information appearing on such reports to the latest completed final village or city assessment roll as of the date of sale. Such notification shall be made in the manner provided for making corrections to real property transfer reports in section 8191-2.3 of this Subpart.

(b) The chairman of the Nassau County Board of Assessors shall review all real property transfer reports and, where an arm's-length transfer of real property improved by a one-, two- or three-family residential structure is reported, shall notify ORPTS of whether as of the date of sale such property subject to the assessment limitation prescribed in subdivision (1) of section 1805 of the Real Property Tax Law. Such notification shall be made in the manner provided for making corrections to real property transfer reports in section 8191-2.3 of this Subpart.