440.1  Assessment of omitted property.

When the director of revenue and finance is vested with the power and duty to assess property and an assessment has, for any reason, been omitted, the director shall proceed to assess the property for each of the omitted years. The omitted assessment shall only apply to the assessment year in which the omitted assessment is made and the four prior assessment years. Chapter 429 shall apply to assessments of omitted property.

Section History: Early form

  [C27, 31, 35, § 7105-a1; C39, § 7105.1; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 440.1]

Section History: Recent form

  97 Acts, ch 158, §36

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