If any property required to be assessed for any year wholly escapes assessment or escapes assessment in part due to the board’s underassessing the property because of failure of the taxpayer to report the property accurately, the board shall immediately assess or reassess the property upon the discovery of the escape.
Cal. Rev. & Tax. Code § 11315
Estimated and Escaped Assessments
Amended by Stats. 1974, Ch. 54.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.