§ 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.

HISTORY: An. Code 1957, art. 81, § 34A; 1985, ch. 8, § 2; 1986, ch. 171; 2002, ch. 120.