(a) If real property eligible for a grant or for reimbursement of a property tax or a portion thereof under the provisions of § 12-18b, 12-20b or 12-129p, or any other provision of the general statutes, is located in a town that (1) elected to phase in assessment increases pursuant to § 12-62a of the general statutes, revision of 1958, revised to January 1, 2005, with respect to a revaluation effective on or before October 1, 2005, or (2) elects to phase in assessment increases pursuant to § 12-62c with respect to a revaluation effective on or after October 1, 2006, the assessed valuation of said property as reported to the Secretary of the Office of Policy and Management shall reflect the gradual increase in assessment applicable to comparable taxable real property for the same assessment year.

(b) If the legislative body of a town elects to phase in real property assessment increases with respect to a revaluation effective on or after October 1, 2006, pursuant to § 12-62c, or pursuant to § 12-62a of the general statutes, revision of 1958, revised to January 1, 2005, with respect to a revaluation effective on or before October 1, 2005, the grand list furnished, pursuant to § 7-328, to the clerk of any district, as defined in § 7-324, shall reflect assessments based upon such phase-in for each assessment year during which such phase-in is effective.