1. The division of motor carrier and railroad safety shall have the power to ascertain the value of the property of every motor carrier in this state and every fact which in its judgment may or does have any bearing on such value. The division shall have power to make revaluations from time to time and to ascertain all new construction, extensions and additions to the property of every motor carrier.

2. For the purpose of ascertaining the matters and things specified in this section concerning the value of the property of motor carriers the division may cause a hearing or hearings to be held at such time or times or place or places as the division may designate. Before any hearing is had, the division shall give the motor carrier affected thereby at least thirty days’ written notice, specifying the time and place of such hearing, and such notice shall be sufficient to authorize the division to inquire into the matters designated in this section, but this provision shall not prevent the division from making any preliminary examination or investigation into the matters herein referred to, or from inquiring into such matters in any other investigation or hearing. All motor carriers affected shall be entitled to be heard and to introduce evidence at such hearing or hearings. The division is empowered to resort to any other source of information available which information shall be offered in evidence on such hearing. The evidence introduced at such a hearing or at such hearings shall be reduced to writing and certified under the seal of the division.

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3. The division shall make and file its findings of fact in writing upon all matters concerning which evidence shall have been introduced before it which in its judgment have bearing on the value of the property of the motor carrier affected. Such findings shall be subject to review by any circuit court of this state in the same manner and within the same time as other orders and decisions of the division. The findings of the division so made and filed, when properly certified under the seal of the division, shall be admissible in evidence in any action, proceeding or hearing before the division or any court in which the division, the state or any officer, department or institution thereof, or any county, city, municipality or other body politic and the motor carrier affected may be interested, whether arising under the provisions of this chapter or otherwise, and such findings when so introduced shall be conclusive evidence of the acts therein stated as of the date therein stated under conditions then existing, and such facts can only be controverted by showing a subsequent change in conditions bearing upon the facts therein determined.

4. The division may from time to time cause further hearings and investigations to be had for the purpose of making revaluations or ascertaining the value of any betterments, improvements, additions or extensions made by any motor carrier subsequent to any prior hearing or investigation, and may examine into all matters which may change, modify or affect any findings of fact previously made, and may at such time make findings of fact supplementary to those theretofore made. Such hearings shall be had upon the same notice and be conducted in the same manner, and the findings so made shall have the same force and effect as is provided herein for such original notice, hearing and findings; provided, that such findings made at such supplemental hearings or investigations shall be considered in connection with and as a part of the original findings except insofar as such supplemental findings shall change or modify the findings made at the original hearing or investigation.