Estimation of asset value by Valuation Officer permits statutory valuation reports to inform assessments after giving a hearing. The Assessing Officer may refer any asset, property or investment to a Valuation Officer to estimate its value, including fair market value, whether or not the accounts appear correct. The Valuation Officer shall exercise statutory valuation powers, consider evidence produced and give the assessee an opportunity of being heard; if the assessee does not cooperate, the officer may estimate to the best of his judgment. The Valuation Officer must send the report to the Assessing Officer and the assessee within six months, and the Assessing Officer may take the report into account after giving the assessee a hearing.