Section 54
SEC. 54. (a) After having completed the list, the board shall proceed to assess the value of each separate parcel of real estate, and the improvements thereon, if any, at their true value in money; and, where it shall appear that there are separate owners of the land and of the improvements, a separate assessment of the property of each shall be made. (b) The values so fixed shall he placed upon the tax list opposite the names of the owners and the descriptions of the property taxed.