Section 8-418 - Escaped personal property - Penalty and notice.
§ 8-418. Escaped personal property - Penalty and notice.
(a) Determinations made for penalty.- After any personal property that is subject to assessment by § 8-417(d) of this subtitle as escaped property is assessed, the Department shall determine if:
(1) the owner failed to report accurately the cost or other information as to the escaped property; and
(2) the failure to report accurately caused the escaped property to be assessed at less than its value.
(b) Notice.-
(1) Notice of the assessment of escaped property under § 8-417(d) of this subtitle and the imposition of any penalty under § 14-705 of this article shall be given as provided by § 14-402 of this article.
(2) The notice shall separately state:
(i) the assessment of the escaped property; and
(ii) the penalty imposed under § 14-705 of this article.
[An. Code 1957, art. 81, § 34A; 1985, ch. 8, § 2; 1986, ch. 171; 2002, ch. 120.]