59-2-309 - Property escaping assessment -- Duties of assessing authority -- Property willfully concealed -- Penalties. - Utah Statutes

59-2-309. 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 assessor shall enter theassessments on the tax rolls and follow the procedures established under Part 13 of this chapter.
(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 or waived by theassessor, county, county Board of Equalization, or the commission, except pursuant to aprocedure for the review and approval of waivers adopted by county ordinance, or byadministrative rule adopted in accordance with Title 63G, Chapter 3, Utah AdministrativeRulemaking Act.

Amended by Chapter 382, 2008 General Session