Be it further enacted, That the following rules and regulations shall govern the review of assessments made by the city assessor:
(a) Notice of increased or new assessment. The city assessor, by ordinary mail or by personal service, shall send a notice to the last known address of the person liable for taxes based on increased or new assessment made by the city assessor or by the board of equalization. If the owner of such property is unknown, or is a nonresident of the state with no known agent in the state, the notice shall be posted on the property at least ten (10) days in advance of date set for the hearing. The notice shall state the time and place that the taxpayer may appear before the board of equalization for a hearing and the amount of the new or increased assessment, and shall be sent at least ten (10) days in advance of the date fixed for the hearing.
(b) Hearing before board of equalization. The taxpayer may appear at the time and place for the hearing, and may present reasons for objecting to the assessment. The secretary of the board of equalization, by ordinary mail or by personal service, shall send a notice within five (5) days thereafter of the board's decision to the taxpayer. Thereafter appeals may be taken as provided by general law. If the taxpayer does not make an appearance at such hearing, or having appeared at such hearing does not file an appeal with the time allowed by general law, the final assessment of the city assessor or of the board, as the case may be, shall stand.
(c) When board to be in session. The board of equalization shall begin and end its work at times to be prescribed by ordinance, which times shall be so established that the assessment roll may be completed and tax bills may be prepared before the tax due date.
(d) Report of board. The board of equalization upon completion of its work, shall submit a written report to the council, including total increases and decreases made by it and the final total assessment of each class of property.