Section 40-2-18

Procedure after revaluation and equalization.

Whenever the work of revaluing and equalizing any class or classes of property has been completed by order of the Department of Revenue, as provided herein, and the revised valuation has been entered on the tax return list, the county board of equalization shall certify over their signatures to the correctness thereof and shall deliver said tax return list showing such assessment and revaluation to the assessor of the county as their report, and the tax assessor shall hold them in his office subject to public inspection. The tax assessor shall then give notice by publication once a week for three consecutive weeks in a newspaper published in the county, if any are published in the county and, if no newspaper is published in the county, by posting notices in at least three public places in the county that the county board of equalization has returned its report and that the same is open to public inspection and that said board will convene at the courthouse in the county on a day to be named and fixed in said notice to correct any errors in the valuations. In the event the property of any taxpayer is increased by the county board of equalization when revaluing and equalizing assessments as provided in this section over the assessed value as originally fixed by such board, the taxpayer shall be furnished by certified or registered mail, return receipt requested, or in person, with a statement showing separately the revised value of his personal property and his real property and also that such taxpayer may file in writing with the secretary of the county board of equalization within 10 days from the date of such notice objections, if any are made, to the revaluation made as herein provided, and that the county board of equalization will sit on a day to be named and fixed in such notice, when the complaining taxpayer, his agent or attorney may appear and produce evidence in support of any objection as filed. But failure to give or receive such notice shall not invalidate any assessment; provided, that the taxpayer shall have the right at any time before the taxes become delinquent to appear before the county board of equalization and have the assessment of his property reopened, if satisfactory proof is made that the taxpayer or his agent did not receive notice of such increase. It shall be the duty of the county board of equalization to convene and sit at the courthouse in its respective county on the day named and fixed in said notices and to remain in session as long as may be necessary for the purpose of hearing objections, if any, that have been filed in writing against said revaluation or equalization so fixed by said board; and at such sitting the complaining property owner may appear in person or by agent or attorney and produce evidence in support of objections to assessment valuations as fixed on his property; and it shall be the duty of the county board of equalization to examine the complainant under oath and to examine any other witnesses under oath, as to the fair and reasonable market value of the property of said owner, and, if it finds from the evidence the revaluation placed by it on the property was not the amount specified by law on the fair and reasonable market value of such property, then it shall correct the valuations and enter such corrected value upon the tax return on which said property is listed for taxation, so that such return will show the amount specified by law on the fair and reasonable market value, and such corrected amount so entered by the board shall constitute the taxable value of such property; but if the said board shall find from all the evidence that the revaluations placed by it on the property were the amount specified by law on the fair and reasonable market value, then said valuation thus made shall remain and stand as the assessable value for taxation of said property. The revised and corrected property valuation thus made shall be fixed as the legal valuation of the property for the payment of the taxes, and it shall be the duty of the taxpayer to pay his taxes thereon accordingly. In the event the revaluation and equalization provided for herein is made by the Department of Revenue, the Department of Revenue shall certify to the correctness of the revised tax assessments, and the newspaper publication shall be made and notices given as when the board of equalization revalues and equalizes property, that the Department of Revenue will sit on the date fixed in said notices to hear evidence in support of objections, if any, filed in writing with the tax assessor to revaluations and equalizations made by it; at such sitting the complaining property owner may appear in person or by agent or attorney and produce evidence in support of objections filed by him in writing to any revaluation of his property. And it shall be the duty of the Department of Revenue to examine any other witnesses under oath as to the fair and reasonable market value of the property of said owner; and, if it finds from the evidence that the readjusted value placed by it on the property was not the amount specified by law on the fair and reasonable market value of such property, then it shall correct the valuations and enter such corrected value upon the tax return on which said property is listed, so that such return will show the amount specified by law on the fair and reasonable market value, and such corrected amount so entered by the Department of Revenue shall constitute the taxable value of such property; but if the Department of Revenue finds from all the evidence that the valuation placed by it on the property was the amount specified by law on the reasonable market value, then said valuations thus made shall remain and stand as the assessable value for taxation of said property. From the revaluation and equalization made as herein provided, the taxpayer may appeal to the circuit court in the manner as provided for appeal from the county board of equalization.

(Acts 1935, No. 194, p. 256; Code 1940, T. 51, §135.)