The board may increase or decrease the valuation and assessment of any real property listed on the assessment list to whatever is reasonable and just and ensures equalization. The board may not increase the valuation of any property more than 25% without first giving notice of the board's intention to increase the valuation to the owner or agent at the last known address. The notice must state the date, time and location of the City Board of Equalization meeting. The board is responsible for adding any omitted property to the assessment roll at its true and full value. Any errors in valuation made by the assessor should be corrected at the local level. Errors not corrected at the local level will be difficult to correct later. Errors which are not corrected may result in unfairness and inequity in taxation.