What is a hallmark of the "Regular" Omitted procedure?

The "Regular" Omitted procedure is particularly significant because it is associated with rollbacks and does indeed require a hearing. This process is implemented when a property has been omitted from the tax roll, which means that the property owner has not been assessed for taxes in a given year. As a result, the Omitted procedure allows local authorities to adjust the tax assessment retroactively to ensure that the property owner's tax obligations are met for that period.

During the hearing, evidence is presented regarding the property's value and the circumstances surrounding the omission. This procedural requirement ensures transparency and fairness in establishing any tax liabilities that may arise from the earlier assessment omission. It safeguards the property owner's rights by allowing them to present their case before any tax liability is officially determined.

It’s critical to understand that the other options describe aspects that do not accurately characterize the "Regular" Omitted procedure. For instance, the procedure does require a hearing (contrary to the first option), it doesn’t mandate automatic adjustments across all properties (refuting the third option), and it is not limited to just commercial properties (discrediting the fourth option). Understanding these distinctions reinforces the significance of procedural correctness in property taxation.