California § 531.3. 531.3. (Added by renumbering Section 507 by Stats. 1969, Ch. 1557.)

California Statutes

§ 531.3. — 531.3. (Added by renumbering Section 507 by Stats. 1969, Ch. 1557.)

California § 531.3.

JurisdictionCalifornia

Code RTCRevenue and Taxation Code - RTC

Div. 1.DIVISION 1. PROPERTY TAXATION

Part 2.PART 2. ASSESSMENT

Ch. 3.CHAPTER 3. Assessment Generally

Art. 4.ARTICLE 4. Property Escaping Assessment

This text of California § 531.3. (531.3. (Added by renumbering Section 507 by Stats. 1969, Ch. 1557.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Revenue and Taxation Code - RTC Code § 531.3. (2026).

Text

If the assessor requires an assessee to describe personal property in such detail as shows the cost thereof but the assessee omits to report the cost of the property accurately, notwithstanding that this information is available to the assessee, to the extent that this omission on the part of the assessee causes the assessor not to assess the property or to assess it at a lower valuation than he would enter upon the roll were the cost reported to him accurately, that portion of the property as to which the cost is unreported, in whole or in part, shall be assessed as required by law. If the omission is willful or fraudulent, the penalty and interest provided in Sections 504 and 506 shall be added to the additional assessment; otherwise only the interest provided in Section 506 shall be so 

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If the assessor requires an assessee to describe personal property in such detail as shows the cost thereof but the assessee omits to report the cost of the property accurately, notwithstanding that this information is available to the assessee, to the extent that this omission on the part of the assessee causes the assessor not to assess the property or to assess it at a lower valuation than he would enter upon the roll were the cost reported to him accurately, that portion of the property as to which the cost is unreported, in whole or in part, shall be assessed as required by law. If the omission is willful or fraudulent, the penalty and interest provided in Sections 504 and 506 shall be added to the additional assessment; otherwise only the interest provided in Section 506 shall be so added.