1. During the annual session of the State Board of Equalization beginning on the fourth Monday in March of each year, the State Board of Equalization shall:
(a) Equalize property valuations in the State.
(b) Review the tax rolls of the various counties as corrected by the county boards of equalization thereof and raise or lower, equalizing and establishing the taxable value of the property, for the purpose of the valuations therein established by all the county assessors and county boards of equalization and the Nevada Tax Commission, of any class or piece of property in whole or in part in any county, including those classes of property enumerated in NRS 361.320.
2. If the State Board of Equalization proposes to increase the valuation of any property on the assessment roll:
(a) Pursuant to paragraph (b) of subsection 1, it shall give 30 days’ notice to interested persons by first-class mail.
(b) In a proceeding to resolve an appeal or other complaint before the Board pursuant to NRS 361.360, 361.400, 361.402 or 361.403, it shall give 10 days’ notice to interested persons by registered or certified mail or by personal service.
Ê A notice provided pursuant to this subsection must state the time when and place where the person may appear and submit proof concerning the valuation of the property. A person waives the notice requirement if he or she personally appears before the Board and is notified of the proposed increase in valuation.