Section 14-401 – Personal Property Valuation and Assessment — Failure to Submit Report

    (a)    If a person fails to submit the reports required in § 11-101 or § 11-102 of this article, the Department shall value the person’s personal property based on any information the Department can obtain and assess the personal property at not more than twice the estimated value.     (b)    An assessment under subsection (a) of this section […]

Section 14-402 – Inaccurately Reported Personal Property

    If personal property is assessed at less than its value as a result of the owner inaccurately reporting the cost or other information as to the property, the underassessed part of the property shall be treated as escaped property under § 8-417 of this article.