§ 7.04. Board of Equalization.

Subd. 1. The council is the board of equalization. The council must appoint two or more non-voting advisors to assist the board in reviewing property valuations. The advisors must be city residents who are experienced in real estate matters. Each will serve a one-year term. The council may provide compensation for the advisors.

Subd. 2. The board's function is to equalize assessments of property for taxation. The board's actions must be approved by a majority of all its members. As soon as the board reassesses any property, the city assessor must notify the property owner of the amount and the reason for the change.