Section 26-27-315 - Equalization of assessments(a) Immediately after the county assessor files his or her report of the assessment of real and personal property in the office of the county clerk as required by law, the county clerk shall present the report of the assessment to the county equalization board, and the county equalization board shall proceed to equalize the assessed valuation of the properties.(b) For this purpose, the county equalization board shall observe the following rules: (1)(A) It shall raise or lower the valuation of any property to bring about a complete equalization of property at the proper value under § 26-26-407 or § 26-26-1202 or in accordance with a value otherwise prescribed by law.(B) It shall not raise or lower the valuation of any property without documenting the reason for raising or lowering the valuation of the property to achieve the proper value under § 26-26-407 or § 26-26-1202 or in accordance with a value otherwise prescribed by law, and the documentation shall be attached to the appropriate property record card or cards.(C)(i) It shall not raise or lower the value of any property without reviewing values of similarly situated properties.(ii) If the same reason for raising or lowering the value of the property exists for those similarly situated properties, the values for those properties shall also be raised or lowered, and the changes shall be documented.(D) It shall not materially change the records of the county assessor's office, but may only direct that the assessed value of property be raised or lowered in keeping with its documented findings;(2)(A) In each instance in which the county equalization board shall raise the valuation of any property, it shall immediately notify the owner or his or her agent by first class mail of the increase.(B) However, all persons present before the county equalization board in person or by agent at the time the increase is ordered are there so notified and shall not be entitled to further notice.(C) The notice shall state the valuation returned by the county assessor and the valuation fixed by the county equalization board and shall advise the owner or his or her agent that he or she may in person, by agent, petition, or letter apply for and receive consideration or hearing by or before the county equalization board if the application shall be made on or before the first Saturday next preceding the third Monday in September if in regular session for equalization or before the first Saturday next preceding the third Monday of November if meeting in special sessions; and(3) In each instance in which an assessment is raised and the owner or his or her agent has applied for consideration or hearing for an adjustment of his or her assessment, if the county equalization board has failed to take action on his or her application before adjourning its regular session or if it fails to convene in special session to consider the application, then the county equalization board shall reduce all such increases to the assessed levels of the previous year.Amended by Act 2017, No. 659,§ 3, eff. 8/1/2017.Acts 1929, No. 172, § 27; Pope's Dig., § 13645; A.S.A. 1947, § 84-707; Acts 1999, No. 1326, § 7; 2001, No. 1567, § 1.