Any person claiming a reduction in the valuation of property below that of the prior year, by reason of a change in the use of the property, or the destruction or injury by fire, flood, typhoon, storm or otherwise, or removal of any improvement of any kind, or of orchards, timber or ornamental trees, the value of which shall have been included in the former valuation of the property, shall file a report thereof with the assessor in such form as he shall prescribe.

(a) Such report shall be signed and sworn to by the person making the same, and his signature thereon shall

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11 Guam Code Ann. FINANCE & TAXATION
CH. 24 REAL PROPERTY TAX

constitute a certification to the truth of the facts therein set forth under the penalty of perjury.

(b) Such report shall be filed prior to the first Monday in March of the year for which the reduction is sought, and a failure to file such report shall effect a forfeiture of any right to any such reduction in the valuation.

SOURCE: GC § 19212.3.

2017 NOTE: Subsection designations added pursuant to authority granted by 1 Guam Code Ann. § 1606.