59-2-217 - Property escaping assessment -- Duties of assessing authority -- Property willfully concealed -- Penalties.
59-2-217. Property escaping assessment -- Duties of assessing authority -- Propertywillfully concealed -- Penalties.
(1) Any escaped property may be assessed by the original assessing authority at any timeas far back as five years prior to the time of discovery, in which case the assessing authority shallenter the assessments on the tax rolls and follow the procedures established under Part 13 of thischapter.
(2) Any property found to be willfully concealed, removed, transferred, ormisrepresented by its owner or agent in order to evade taxation is subject to a penalty equal to thetax on its value, and neither the penalty nor assessment may be reduced by the county board ofequalization or the commission.
Enacted by Chapter 204, 1989 General Session