Upon receiving a proper application, the Assessor shall verify the amounts claimed on the application in the before and after condition. The Assessor shall then compute a percentage relationship of loss and reduce the current assessed value by that percentage. The Assessor shall notify the applicant in writing of the amount of the proposed reassessment. The notice shall state that the applicant may appeal the proposed reassessment to the local Board of Equalization within six months of the date of mailing the notice. If an appeal is requested within the six-month period, the Board shall hear and decide the matter as if the proposed reassessment had been entered on the roll as an assessment made outside the regular assessment period. The decision of the Board regarding the value of the suspended or restricted permit shall be final provided that a decision of the local Board of Equalization regarding any reassessment made pursuant to this section shall create no presumption as regards the value of the affected property subsequent to the date of the suspension or restriction. The reassessments resulting from those reductions, as determined above, shall be forwarded to the Auditor by the Assessor or the Clerk of the Board, as the case may be. The Auditor shall enter the reassessed values on the roll. After being entered on the roll, said reassessment shall not be subject to review except by a court of competent jurisdiction. (Ord. 941, eff. 4/17/03; Ord. 517, eff. 1/3/78)