Assessments are examined and revised both by a county board of equalization and a state board of equalization.
Except in the case of railways, telegraph and telephone lines, savings banks, building and loan associations and fire insurance companies, the taxes are assessed and collected by town officers, but every fourth year the county commissioners are required to inspect the taxable property in the towns and report any misappraisal to the state board of equalization whose duty it is to equalize the valuation of property in the several towns.
A state board of equalization has been established to insure equitable taxation.
The assessment rolls of the county assessor are subject to alteration by the board of county commissioners sitting as a county board of equalization and the assessments as between counties are subject to alteration by the state board of equalization.
Among the various state administrative boards are the board of equalization of five members, the board of health of nine members, a board of control of state institutions with four members (bipartisan), and the railroad commission, the prison commission, the state election commission and the sinking fund commission of three members each.
A general property tax, which furnishes about four-fifths of the public revenue, worked so inequitably that a Board of Equalization was appointed in 1901.
It supervises and audits the accounts of state departments, directs the taking of the census, transfers cities from one class to another in accordance with census returns, constitutes the board for canvassing election returns, classifies railways, assesses railway and other companies, constitutes the state board of equalization for adjusting property valuations between the several counties for taxing purposes, supervises the incorporation of building and loan associations, appoints the board of examiners of mine inspectors and has many other powers.
Boards of Revision and Boards of Supervision then equalize the assessments in the counties and townships, while a State Board of Equalization seeks to equalize the total valuation of the various counties.