Opinion No.

The Honorable David R. Malone State Senator P.O. Box 1048 Fayetteville, AR 72702-1048

Dear Senator Malone:

This is in response to your request for an opinion on the following question:

If the property owner or County Assessor fails to assess a new building for property taxes, and the property is sold and taxes paid at the closing of a sale of the property for 1996, and prorated for 1997 based on this erroneous amount (without the building), may the County Assessor correct the assessment after the closing, and may the County Collector then seek to collect the tax for 1996 and 1997, as a lien…