Failure to file return; alternative assessment procedures; election
to file
Sec. 15. (a) In connection with the activities required by section
14 of this chapter, or if a person owning, holding, possessing, or
controlling any personal property fails to file a personal property
return with the township assessor as required by this chapter, the
township assessor may examine:
(1) the personal property of the person;
(2) the books and records of the person; and
(3) under oath, the person or any other person whom the
assessor believes has knowledge of the amount, identity, or
value of the personal property reported or not reported by the
person on a return.
(b) After such an examination, the assessor shall assess the
personal property to the person owning, holding, possessing, or
controlling that property.
(c) As an alternative to such an examination, the township
assessor may estimate the value of the personal property of the
taxpayer and shall assess the person owning, holding, possessing, or
controlling the property in an amount based upon the estimate. Upon
receiving a notification of estimated value from the township
assessor, the taxpayer may elect to file a personal property return,
subject to the penalties imposed by IC 6-1.1-37-7.
(Formerly: Acts 1975, P.L.47, SEC.1.) As amended by Acts 1977,
P.L.63, SEC.1; P.L.57-1985, SEC.1.
Last modified: May 28, 2006