In odd-numbered years, the Department of Revenue reviews the level of assessment of property within each property class. If the County's level of assessment for any class is at least 5% above or below the statewide level, the Department will order the equalization of those levels. This equalization order is given to keep assessments for each class of property for varying too much across the state.
Final equalization orders are issued by the Department of Revenue to the County Auditor on October 1. If the County receives this order, the assessor must adjust the particular class up or down the percentage specified in the order. The equalization order adjusts the total valuation of a class of property and may not adjust the valuation of single properties.
In the event of an equalization order, the Board of Review convenes from October 15 to November 15 to hear protests of affected owners or taxpayers if their valuation has been changed by it.