What is the penalty for failing to file or filing late?
If you do not file a Form of List for the fiscal year, the Assessors cannot grant an abatement if you show a reasonable excuse for the late filing or the tax assessed is more that 150 percent of the amount that would have been assessed if the list had been filed. In that case, only the amount over that percentage can be abated. You can avoid this penalty by filing on time.
