Maryland Statutes
Subtitle 4 - Assessment Preparation and Modification
Section 8-418 - Escaped Personal Property -- Penalty and Notice

(a)    After any personal property that is subject to assessment by § 8-417(d) of this subtitle as escaped property is assessed, the Department shall determine if:
        (1)    the owner failed to report accurately the cost or other information as to the escaped property; and
        (2)    the failure to report accurately caused the escaped property to be assessed at less than its value.
    (b)    (1)    Notice of the assessment of escaped property under § 8-417(d) of this subtitle and the imposition of any penalty under § 14-705 of this article shall be given as provided by § 14-402 of this article.
        (2)    The notice shall separately state:
            (i)    the assessment of the escaped property; and
            (ii)    the penalty imposed under § 14-705 of this article.

Structure Maryland Statutes