Personal Property Tax

County Bulletin

TO: ALL COUNTY AUDITORS Bulletin No. 222

DATE:  March 11, 1968

FROM:  G. W. Porterfield, Tax Commissioner

RE: Penalties -Personal Property Tax Returns

When a taxpayer has failed to file a timely personal property tax return or has failed to list in his return any item of taxable property, penalties and additional charges, provided by law, shall be determined and assessed as follows:

1. If a taxpayer files a return or an amended return within 60 days of the required or extended due date, a 5 percent penalty shall apply.

2. Subsequent to the 60-day period a 50 percent penalty shall apply.

However if the taxpayer by Petition for Reduction of Penalty

(Form 998) shows that his failure to file a return or to list tax-able property was due to reasonable cause and not to willful neglect, this penalty may be reduced:

   a. to 5 percent, for a return filed or omitted property listed prior to October 1st of the required tax year.

    b. to 10 percent, for a return filed or omitted property listed on or after October 1st of the required tax year.

3. In every case where the above penalty provisions apply an additional charge of 1/2 of I percent per month shall be added for each full month from the date such property was required to returned to the date of assessment.

The above provisions apply to 1968 and subsequent returns. For 1967 and prior returns, the provisions of County Auditor Bulletin No. 66 issued January 4, 1965 will apply.