Section 14-90-604 - Reduction of excessive assessments(a)(1)(A) Wherever lands, or other real property, in an improvement district in cities and towns have been assessed for such an unreasonable or excessive amount that the taxes or assessments against the property and which have accumulated against the property are as much or more than the reasonable market value of the property, and there is no existing law authorizing a reduction of the assessment or giving relief to the property owner, any owner of the land or other real property may file a joint petition with the commissioners on the board of improvement of the district, may file a separate petition, or the commissioners may file a separate petition asking the chancery court having jurisdiction to foreclose the lien of assessments in the district to reduce the assessment.(B) Where the petition is not a joint petition, the other party shall be made a defendant and served with ten (10) days' notice. Thereupon, it shall be the duty of the court to hear the petition.(2) If on the hearing it appears that all outstanding bonds, interest coupons, and other indebtedness of the district have been fully paid, or that to facilitate the liquidation of the district all of its bonds, coupons, and other indebtedness have been acquired and are held by a trustee or by the commissioners of the district exclusively in trust for the property owners of the district, and if it further appears that the assessment is excessive and should be reduced, it shall be the duty of the court to reduce the assessment as equity and good conscience may require, taking into consideration the market value of the property involved, the benefits accruing to the property by reason of the improvement, the assessments against similar property in the district, the amount of other taxes and assessments against the property in other districts in which the land may be, and any other pertinent facts.(b) This section is cumulative to other laws pertaining to improvement districts in cities and towns.Acts 1947, No. 328, §§ 1, 2; A.S.A. 1947, §§ 20-453, 20-454.