California Revenue and Taxation Code 463 – (a) If any person who is required by law or is requested by the …
(a) If any person who is required by law or is requested by the assessor to make an annual property statement fails to file an annual property statement within the time limit specified by Section 441 or make and subscribe the affidavit respecting his or her name and place of residence, a penalty of 10 percent of the assessed value of the unreported taxable tangible property of that person placed on the current roll shall be added to the assessment made on the current roll.
(b) Notice of any penalty added to the secured roll pursuant to this section shall be mailed by the assessor to the assessee at his or her address as contained in the official records of the county assessor.
Terms Used In California Revenue and Taxation Code 463
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Assessee: means the person to whom property or a tax is assessed. See California Revenue and Taxation Code 23
- board: means the California Department of Tax and Fee Administration. See California Revenue and Taxation Code 20
- County: includes city and county. See California Revenue and Taxation Code 15
- Person: includes any person, firm, partnership, general partner of a partnership, limited liability company, registered limited liability partnership, foreign limited liability partnership, association, corporation, company, syndicate, estate, trust, business trust, or organization of any kind. See California Revenue and Taxation Code 19
(c) If the assessee establishes to the satisfaction of the county board of equalization or the assessment appeals board that the failure to file the property statement within the time required by Section 441 was due to reasonable cause and circumstances beyond the assessee’s control, and occurred notwithstanding the exercise of ordinary care in the absence of willful neglect, it may order the penalty abated, provided the assessee has filed with the county board written application for abatement of the penalty within the time prescribed by law for the filing of applications for assessment reductions.
(d) If the penalty is abated it shall be canceled or refunded in the same manner as an amount of tax erroneously charged or collected.
(Amended by Stats. 2015, Ch. 501, Sec. 1. (AB 571) Effective January 1, 2016.)