§ 1602. Establishment of consolidated assessing units. 1. The
governing bodies of two or more assessing units, except villages, are
hereby authorized to establish a consolidated assessing unit for the
purposes hereinafter stated and in the manner hereinafter provided.

2. A consolidated assessing unit shall be established upon the passage
of an identical local law by each city and town which is to join the
consolidated assessing unit. Such a local law shall be subject to
permissive referendum and must be adopted by all affected cities and
towns at least two months before the first taxable status date to which
it is to apply. A copy of each such local law shall be filed with the
commissioner within thirty days of the adoption thereof.

3. Each such local law shall provide that a revaluation shall be
implemented on the first assessment roll of the consolidated assessing
unit, unless (a) the commissioner certifies that each of the cities and
towns establishing the consolidated assessing unit has implemented a
revaluation or update, and (b) each such revaluation or update shall be
no more than three years old as of the first taxable status date of the
consolidated assessing unit.

4. The dates applicable to the assessment process in a consolidated
assessing unit, including valuation date, taxable status date, and the
dates for the filing of the tentative and final assessment rolls, shall
be as provided in articles three and five of this chapter, except as
otherwise provided in this article.

5. For purposes of this article, the cities and towns which have
established a consolidated assessing unit shall be referred to as the
"constituent municipalities" of the consolidated assessing unit.