Omitted property; assessment
Sec. 39. The annual assessments of a public utility company's
property are presumed to include all the company's property which
is subject to taxation under this chapter. However, this presumption
does not preclude the subsequent assessment of a specific item of
tangible property which is clearly shown to have been omitted from
the assessments for that year. The appropriate township assessor
shall make assessments of omitted fixed property. The department of
local government finance shall make assessments of omitted
distributable property. However, the department of local government
finance may not assess omitted distributable property after the
expiration of ten (10) years from the last day of the year in which the
assessment should have been made.
(Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.90-2002,
SEC.84.
Last modified: May 28, 2006