CO Code § 39-5-116 (2021)
2021 Colorado Code|Title 39 - Taxation|Article 5 - Valuation and Taxation|Part 1 - Real and Personal Property|§ 39-5-116. Failure to File Schedule - Failure to Fully and Completely Disclose

  If any person owning taxable personal property to whom one or more personal property schedules have been mailed, or upon whom the assessor or his deputy has called and left one or more schedules, fails to complete and return the same to the assessor by the April 15 next following, unless by such date such person has requested an extension of filing time as provided for in this section, the assessor shall impose a late filing penalty in the amount of fifty dollars or, if a lesser amount, fifteen percent of the amount of tax due on the valuation for assessment determined for the personal property for which any delinquent schedule or schedules are required to be filed. Any person who is unable to properly complete and file one or more of such schedules by April 15 may request an extension of time for filing, for a period of either ten or twenty days, which request shall be in writing and shall be accompanied by payment of an extension fee in the amount of two dollars per day of extension requested. A single request for extension shall be sufficient to extend the filing date for all such schedules which a person is required to file in a single county. Any person who fails to file one or more schedules by the end of the extension time requested shall be subject to a late filing penalty as though no extension had been requested. Further, if any person fails to complete and file one or more schedules by April 15 or, if an extension is requested, by the end of the requested extension, then the assessor may determine the actual value of such person's taxable personal property on the basis of the best information available to and obtainable by him and shall promptly notify such person or his agent of such valuation. Extension fees and late filing penalties shall be fees of the assessor's office. Penalties, if unpaid, shall be certified to the treasurer for collection with taxes levied upon the person's property.      if he includes in a filed schedule any information concerning his property which is false, erroneous, or misleading or fails to include in a schedule any taxable property owned by him.    Any person who makes full and complete disclosure on the first personal property schedules issued to him on or after August 1, 1987, shall not be assessed a penalty for property previously omitted from the assessment rolls under this article.    Any person subject to paragraph (a) of this subsection (2) shall have the right to pursue the administrative remedies available to taxpayers under this title, dependent upon the basis of his claim.         History. Source: L. 64: R&RE, p. 702, § 1. C.R.S. 1963: § 137-5-16. L. 76: P. 761, § 21. L. 79: P. 1416, § 3. L. 80: P. 498, § 2. L. 81: P. 1832, § 7. L. 82: P. 549, § 14. L. 87: Entire section amended, p. 1414, § 1, effective August 1. L. 88: (2)(a) amended, p. 1273, § 8, effective August 1. History. Source: L. 64: R&RE, p. 702, § 1. C.R.S. 1963: § 137-5-16. L. 76: P. 761, § 21. L. 79: P. 1416, § 3. L. 80: P. 498, § 2. L. 81: P. 1832, § 7. L. 82: P. 549, § 14. L. 87: Entire section amended, p. 1414, § 1, effective August 1. L. 88: (2)(a) amended, p. 1273, § 8, effective August 1.