Every proceeding instituted by the Director of Finance for the collection of taxes shall be commenced within ten (10) years after the date such assessment became final. If an assessment is not issued, every proceeding instituted by the Director of Finance for the collection of taxes shall be commenced within ten (10) years after the taxpayer filed the annual return (or the latest periodical return, if no annual return is required). The limitations of this section can be extended, by written agreement at two (2) year increments.
(Ord. 1-7-03.)