(a) Any owner of a residential building who has obtained a written evaluation from a professional engineer licensed pursuant to chapter 391 indicating that the foundation of such residential building was made with defective concrete may provide a copy of such evaluation to the assessor and request a reassessment of the residential building by the assessor. Not later than ninety days after receipt of a copy of such evaluation, or prior to the commencement of the assessment year next following, whichever is earlier, the assessor, member of the assessor’s staff or person designated by the assessor shall inspect the residential building and adjust its assessment to reflect its current value. Such reassessment may be appealed pursuant to section 12-111. Any reassessment under this section shall apply until the next revaluation becomes effective or the concrete foundation is repaired or replaced, and the assessor, member of the assessor’s staff or person designated by the assessor adjusts the assessment of the residential building, whichever is earlier.

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(b) Notwithstanding the provisions of section 12-62, any property that has had its assessment adjusted pursuant to subsection (a) of this section shall be assessed during each revaluation cycle to reflect its current value.

(c) An owner of a residential building that has obtained a reassessment pursuant to this section shall notify the assessor if the concrete foundation is repaired or replaced. Such notification shall be made in writing within thirty days of the repair or replacement of the concrete foundation. Not later than ninety days after receipt of such notification, or prior to the commencement of the assessment year next following, whichever is earlier, the assessor, member of the assessor’s staff or person designated by the assessor shall inspect the residential building and adjust its assessment to reflect its current value.