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A. Every person with ownership in taxable personal property shall submit to the borough assessor a personal property return of any property owned by him, or in which he has an interest, and of the property held or controlled by him in a representative capacity, in the manner prescribed, which return shall be based on property values existing as of the first day of January of the year for which the return is made. The person making the return in every case shall state an address to which all notices required to be given to him under this section may be mailed or delivered. The return shall show the nature; quantity; description, including date of manufacture; amount; value; purchase price, new or used; depreciable basis; and current condition of all personal property, the place where the property is situated, and said return shall be in such form and include such additional information as the assessor may prescribe, and shall be signed and verified under oath by the person liable, or his or its authorized agent or representative.

B. Said return shall be filed on or before the fifteenth day of January of each tax year, unless the property owner requests, and the assessor approves, an extension that may not exceed 30 days. The extension must be requested prior to the January 15th due date.

C. The borough assessor may, by notice in writing to any person by whom a return has been made, require from him a further return containing additional details and more explicit particulars and, upon receipt of the notice, that person shall comply fully with its requirements within 30 days.

D. In the event of any person failing, refusing, or neglecting to make or file said personal property return of property owned by him, as required herein, the assessor shall make an assessment which shall be as fair and equitable as he is able to make from the best information in his possession concerning said property and this assessment shall be prima facie evidence for all legal purposes and any related proceedings. (AS 29.45.130(a).) [Ord. FY2015-11, 2015; Ord. FY2014-10 , 2014; Ord. FY2011-07 , 2010; Ord. FY2011-05 ; Ord. 92-25 ; prior code Ch. 3 subch. 2 §1. Formerly §3.40.010].