(2) Where a
heritage valuation is made with respect to land pursuant to a request made by
the Minister under section 124 (1), the amount of any rates or taxes payable
in respect of that land shall be redetermined on the basis of that
heritage valuation as from the date determined in accordance with section 124
(1) (a) or (b), as the case may be, of that heritage valuation and any amount
paid in excess shall be refunded and any amount short-paid shall be
recoverable as arrears.