[Adopted 10-12-2010 by Ord. No. 10-29]
The owner of real property used primarily for purposes of producing
rental income shall annually submit to the Tax Assessor, not later
than the first day of June, the best available information disclosing
the actual rental and rental-related income and operating expenses
applicable to such property. The Tax Assessor shall prepare and make
available a form for such purpose on or before April 15.
Any owner of such real property required to submit information
to the Tax Assessor in accordance with the above section for any assessment
year, who fails to submit such information as required or who submits
information in incomplete or false form with intent to defraud, shall
be subject to a penalty equal to an increase of 10% in the assessed
value of such property for such assessment year.
The Tax Assessor shall waive such penalty if the owner of the
real property required to submit the information is not the owner
of such property on the assessment date for the grand list to which
such penalty is added. If the owner of such real property demonstrates
good cause as to why such owner was unable to timely submit such information,
the Tax Assessor may waive such penalty upon receipt of such information,
provided that such information is received no later than four months
from the date such information was due, provided that for information
due June 1, 2010, the period shall expire on December 1, 2010.
