§ 11-2-301. DATE OF FINALITY; VALUATION AND ASSESSMENT OF OMITTED PROPERTY.

(a)

Date of finality. For the collection of taxes in the county, the valuations that appear on the assessment books on January 1 in each year for real property and personal property subject to taxation in the county:

(1)

Are final and conclusive; and

(2)

Constitute the basis on which the county shall assess and levy taxes for the following fiscal year.

(b)

Liability for back taxes.

(1)

Notwithstanding subsection (a) of this section, when property liable to taxation in the county has escaped taxation or valuation is later discovered and placed on the assessment books, the property shall be valued and assessed and, subject to subsection (c) of this section, the owner of the property shall be charged with all back and current taxes due on the missed property.

(2)

The annual levy for each year shall be deemed and taken to have embraced all property that may have escaped taxation.

(c)

4 years back taxes maximum. This section may not be construed to authorize the county to assess property for more than 4 years of back taxes.

(1988 Code, § 33-51) (Bill No. 129-97, § 1, 1-3-1998; Bill No. 33-03, § 2, 7-1-2004)