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23 | Page <br />57-12-05. Requirements to be followed in equalization of individual assessments. <br />The county board of equalization, when equalizing individual assessments, shall observe the following <br />rules: <br />1.The valuation of each tract or lot of real property which is returned below its true and <br />full value must be raised to the sum believed by such board to be the true and full <br />value thereof. <br />2.The valuation of each tract or lot of real property which, in the opinion of the board, is <br />returned above its true and full value must be reduced to such sum as is believed to <br />be the true and full value thereof. <br />57-12-06. County board of equalization - Equalizing between assessment districts and <br />between properties - Limitation on increase - Notice. <br />1.The rules prescribed in section 57-12-05 apply when the board of county commissioners <br />is equalizing assessments between the several assessment and taxing districts in the <br />county provided that in such case, except as otherwise provided in subsection 2, the <br />board may raise or lower the valuation of classes of property only so as to equalize the <br />assessments as between districts. If the board orders an increase under this subsection, <br />the board must comply with any requirement for notice of an assessment increase <br />under section 57-02-53. <br />2.Notwithstanding any other provision of this section: <br />a.The county board of equalization after notice to the local board of equalization <br />may reduce the assessment on any separate piece or parcel of real estate even <br />though such property was assessed in a city or township having a local board of <br />equalization. The county board of equalization may not reduce any such <br />assessment unless the owner of the property or the person to whom it was <br />assessed first appeals to the county board of equalization, either by appearing <br />personally or by a representative before the board or by mail or other <br />communication to the board, in which the owner's reasons for asking for the <br />reduction are made known to the board. The proceedings of the board shall <br />show the manner in which the appeal was made known to the board and the <br />reasons for granting any reduction in any such assessment. <br />b.The county board of equalization after notice to the local board of equalization <br />may increase the assessment on any separate piece or parcel of real property <br />even though such property was assessed in a city or township having a local <br />board of equalization. The county board of equalization may not increase the <br />valuation returned by the assessor or the local board of equalization to an <br />amount that results in a cumulative increase of more than fifteen percent from