(a) General Rule. The amount of any tax, additions to tax, penalties and interest imposed by this article or any of the other ordinances to which this article is applicable shall be assessed within three years after the due date of the returns, provided that in the case of a false or fraudulent return filed with intent to evade tax, or in case no return is filed, the assessment may be made at any time.
(b) Extension by Agreement. The City Treasurer and the taxpayer may enter into written agreements to extend the period within which the City Treasurer may make an assessment against the taxpayer which period shall not exceed two years. The period so agreed upon may be extended for additional periods not in excess of two years each by subsequent agreements in writing made before the expiration of the period previously agreed upon.
(c) Transition Rules. The general rule prescribed in subsection (a) hereof shall be subject to the following transition rules:
(1) With respect to any tax period ending prior to the first day of July, 1987, the amount of tax, additions to tax, penalties and interest shall be assessed within three years after the due date of the return or the date the return was filed, whichever expires the later, except as provided for a false or fraudulent return.
(Ord. 0-19-87. Passed 4-9-87.)