§  718.  When  proceeding deemed abandoned.   1. Where a proceeding is
  commenced pursuant to this article to review the assessment of a  parcel
  of  real  property  which  contains  one,  two  or three family dwelling
  residential real property, including such dwellings  used  in  part  for
  nonresidential  purposes,  but  which are used primarily for residential
  purposes, and farm  dwellings,  or  a  parcel  of  real  property  which
  contains  residential  real  property  consisting  of  more  than  three
  dwelling units held in condominium form of ownership,  or  a  parcel  of
  real  property which contains land used in agricultural production which
  is eligible for an agricultural assessment  pursuant  to  section  three
  hundred  five  or  three hundred six of the agriculture and markets law,
  where the owner of such land has filed  an  annual  application  for  an
  agricultural  assessment,  and farm buildings and structures thereon, as
  defined in subdivision two of section four hundred eighty-three of  this
  chapter,  or  any  parcel  of  real  property  located  in a city with a
  population of one million or more, unless a note of issue is  filed  and
  the  proceeding  is  placed on the court calendar within four years from
  the last date provided by law for the commencement  of  the  proceeding,
  the  proceeding  thereon  shall  be deemed to have been abandoned and an
  order dismissing the petition shall be entered without notice  and  such
  order  shall constitute a final adjudication of all issues raised in the
  proceeding, except where the parties otherwise stipulate or a  court  or
  judge otherwise orders on good cause shown within such four-year period.
    2.  Where a proceeding is commenced pursuant to this article to review
  the assessment of a  parcel  of  real  property  which  solely  contains
  property  which  is  not subject to the provisions of subdivision one of
  this section, a note of issue shall be filed  in  accordance  with  this
  subdivision.
    (a)  Where  a  real property assessment challenge commenced under this
  article has been pending for at least two years from  the  date  of  the
  commencement  of  the  proceeding, either party may demand, by serving a
  written demand, that  the  parties  file  a  written  appraisal  of  the
  property  which  is  the subject of the proceeding and serve same within
  one hundred twenty days of service of such demand. The demand  shall  be
  in  writing  and  served  by personal delivery or certified mail, return
  receipt requested. Both parties shall thereafter file  an  appraisal  or
  show  good  cause  as  to why such demand cannot be complied with within
  such time period. Either party may move to  dismiss  the  proceeding  by
  reason of the other party's failure to prosecute the proceeding and file
  the  appraisal pursuant to the demand. Unless the party shows good cause
  for failing to file the appraisal,  the  court  may  in  its  discretion
  either  dismiss  or grant the petition and such order shall constitute a
  final adjudication of all issues raised in the proceeding.
    (b) Upon the serving and filing the appraisals pursuant  to  a  demand
  made under paragraph (a) of this subdivision, the court shall schedule a
  conference  with  the  parties  to be held within ninety days to discuss
  settlement, resolve disclosure and decide other pretrial issues.
    (c) After completion of  the  pretrial  conference  required  by  this
  subdivision,  the  respondent  may  serve and file a written demand that
  petitioner file a note of issue within thirty days  of  service  of  the
  demand  therefor.  The demand shall be in writing and served by personal
  delivery  or  certified  mail,  return  receipt  requested.  Should  the
  petitioner  fail  to  file  a  note  of  issue within thirty days of the
  service  of  demand,  the  proceeding  shall  be  deemed  to  have  been
  abandoned,  an  order  dismissing  the petition shall be entered without
  notice and such order shall  constitute  a  final  adjudication  of  all
  issues  raised  in  the  proceeding, unless the court or judge otherwise
  orders on good cause shown.

    (d) Should the respondent fail to demand that the  petitioner  file  a
  note  of issue pursuant to paragraph (c) of this subdivision within four
  years from the date of the commencement of the proceeding, and a note of
  issue has not otherwise been filed, the proceeding shall  be  deemed  to
  have  been  abandoned  and  an  order  dismissing  the petition shall be
  entered  without  notice  and  such  order  shall  constitute  a   final
  adjudication  of  all  issues raised in the proceeding, except where the
  parties otherwise stipulate or a court or judge otherwise orders on good
  cause shown within such four-year period.
    3. For purposes of this section a "proceeding" shall include  separate
  proceedings   involving  parcels  under  common  ownership  or  separate
  proceedings consolidated pursuant to section seven hundred ten  of  this
  title.