52 STAT.] 75TH CONG., 3D SESS.-CH. 223-MAY 16, 1938 said assessments, and in determining them they may raise the valua- tion of such tracts or lots as in their opinion may have been returned below their value and reduce the valuation of such as they may believe to have been returned above their value to such sum as in their opinion may be the value thereof. The valuation of the real property made and equalized as aforesaid shall be completed not later than the first Monday of May annually. The valuation of said real property made and equalized as aforesaid shall be approved by the Commissioners not later than July 1 annually, and when approved by the Commis- sioners shall constitute the basis of taxation for the next succeeding year and until another valuation is made according to law, except as hereinafter provided. Any person aggrieved by any assessment, equalization, or valuation made pursuant to this paragraph may within ninety days after July 1 of the year in which such assessment, equalization, or valuation is made, appeal from such assessment, equalization, or valuation in the same manner and to the same extent as provided in sections 3 and 4 of this title. "(b) Annually, on or prior to July 1 of each year, the board of assistant assessors shall make a list of all real estate which shall have become subject to taxation and which is not then on the tax list, and affix a value thereon, according to the rules prescribed by law for assessing real estate; shall make return of all new structures erected or roofed, and additions to or improvements of old structures which shall not have been theretofore assessed, specifying the tract or lot of land on which each of such structures has been erected, and the value of such structure, and they shall add such valuation to the assessment made on such tract or lot. When the improvements on any lot or tract of land shall become damaged or be destroyed from any cause, the said board of assistant assessors shall reduce the assess- ment on said property to the extent of such damage: Provided, That the Board of Equalization and Review shall hear such complaints as may be made in respect of said assessments between July 1 and July 15 and determine the same not later than August 1 of the same year. Any person aggrieved by any assessment or valuation made pursuant to this paragraph may, within ninety days after August 1 of the year in which said valuation or assessment is made, appeal from such assessment or valuation in the same manner and to tle same extent as provided in sections 3 and 4 of this title. "(c) In addition to the annual assessment of all real estate made on or prior to July 1 of each year there shall be added a list of all new buildings erected or under roof prior to January 1 of each year, in the same manner as provided by law for all annual additions; and the amounts thereof shall be added as assessment for the second half of the then current year payable in the month of March. When the improvements on any lot or tract of land shall become damaged or be destroyed from any cause prior to January 1 of each year the said board of assistant assessors shall reduce the assessment on said property to the extent of said damage for the second half of the then current year payable in the month of March. The Board of Equali- zation and Review shall hear such complaints as may be made in respect of said assessments for the second half of said year between January 1 and January 15 and determine said complaints not later than February 1 of the same year. Any person aggrieved by any assessment made in pursuance of this paragraph may within ninety days after February 1 of the year in which such assessment is made, appeal from such assessment in the same manner and to the same extent as provided in sections 3 and 4 of this title. "(d) If the board of assistant assessors shall learn that any prop- erty liable to taxation has been omitted from the assessment for any 373 Completion of valu- ation. Approval; use as basis for taxation for succeeding year. Appeal from assess- ment, equalization, or valuation. Annual listing of tax- able real estate not then on tax list. New structures erected or roofed. Old structures, ad- ditions or improve- ments. Reduction for dam- age or destruction of improvements. Proviso. Complaints. Appeal from assess- ment or valuation. New buildingserect- ed or roofed prior to January of each year, assessment. Added to current year. Reduction for dam- age to improvements prior to January 1. Hearing of com- plaints. Property omitted from assessment and void assessments; re- assessment.
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