(a) This subsection shall apply to taxes assessed and collected under this chapter.
(1) In the event of adjustments on account of duplicate assessments and clerical errors, such as transposition in figures, typographical errors, and errors in calculations, the adjustments may be entered upon the records although the full amount appearing on the records before such adjustment has been paid.
(2) There may be refunded in the manner provided in subsection (b) any amount collected in excess of the amount appearing on the records as adjusted, or any amount constituting a duplication of payment in whole or in part.
(3) Whenever any real property is deemed by the director to be exempt from taxation under § 8-10.17, if there has been paid before the effective date of the exemption any real property taxes applicable to the period following the effective date of the exemption, there shall be refunded to the nonprofit or limited distribution mortgagor owning the property in the manner provided in subsection (b) all amounts representing the real property taxes that have been paid on account of the property and attributable to the period following the effective date of the exemption.
(4) No such adjustment shall be entered on the records except within five years after the end of the tax year in which the amount to be adjusted was due and payable, unless a written application for the adjustment has been filed within such period.
(b) This subsection shall apply to all real property taxes.
(1) Payment of all refunds and adjustments shall be made out of the real property tax refund account in the real property tax trust fund hereinafter created. All refunds and adjustments shall be paid by voucher approved by the director, setting forth the details of each transaction, provided that if the person entitled to the refund or adjustment is the current owner of the property, the refund or adjustment shall be first applied to satisfy any interest, then penalties, then delinquent taxes, due for the property, and if there are no delinquent taxes due then as a credit against future taxes due for the property, unless the city is in receipt of a written request from the current owner for payment by voucher.
(2) There is created and established a fund known as the real property tax trust fund to be used for the purpose of making refunds and adjustments of taxes collected under this chapter. The director may, from time to time, deposit taxes collected under this chapter to the credit of real property tax refund account in the real property tax trust fund so that there may be maintained at all times an amount from which refunds may be paid.
(Sec. 8-1.21, R.O. 1978 (1983 Ed.)) (1990 Code, Ch. 8, Art. 1, § 8-1.18) (Am. Ords. 00-52, 05-030, 05-041)