§ 4-19-10. Penalties for misstatements on applications.  

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  • Any person making a material misstatement of fact in any application filed pursuant hereto shall be liable for all taxes, in such amounts and at such times as if such property had been assessed on the basis of fair market value as applied to other real estate in the taxing jurisdiction, together with interest and penalties thereon, and shall be further assessed with an additional penalty of one hundred percent (100%) of such unpaid taxes. (14-83-4.)