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§ 105-3t2 MACHINERY ACT § 105-3i2 the name of the appropriate taxpayer for the proper years, but the discovery shall still be deemed to have been made as of the date that the tax supervisor first listed it. (g~ Taxation of Discovered Property. -- When property is discovered, it shall be taxed for the year in which discovered and for any of the preceding five years during which it escaped taxation in accordance with the assessed value it should have been assigned in each of the years for which it is to be taxed and the rate of tax imposed in each such year. The penalties prescribed by subsection th), below, shall be computed and imposed regardless of the name in which the discovered property is listed. If the discovery is based upon an understatement of value, quantity, or other measurement rather than an omission I¥om the tax list, the tax shall be computed on the additional valua- tion fixed upon the property, and the penalties prescribed by subsection Ih), below, shall he computed on the basis at' the additional tax. (h) Computation of Penalties. -- Having computed each year's taxes sepa- rately as provided in subsection (gl, above, there shall be added a penalty of ten percent ~.10%) of the amount of the tax for the earliest year in which the property was not listed, plus an additional ten percent (10%) at' the same am0un~ for each subsequent listing period that elapsed before the property was discovered. This penalty shall be computed separately for each year in which a [ailure to list occurred; and the year, the amount of the tax for that year, and the total o[' penalties for t'ailure to list in that year shall be shown separately on the tax records; but the taxes and penalties for all years in which there was a failure to list shall be then totalled on a Single tax receiPt. {il Collection. -- For purposes o£ tm,: collection and foreclosure, the total figure ob:ained and recorded as provided in subsection Ih), above, shall be deemed to be a tm': for the fiscal year beginning on July 1 of the calendar year in which the property was discovered. The schedule of discounts lbr prepay- ment and interesc for late payment applicable to taxes for the fiscal year referred to in the preceding sentence shall apply when the total figure on the single tax receipt is paid. Notwithstanding the time limitations contained in G.S. 105-381, any property Owner who is required to pay taxes on discovered property as herein provided shall be entitled to a refund of any taxes errone- ously paid on the santa property to other taxing jurisdictions in North Caro- lina. Claim thr refund shall be filed in the county where Such tax was errone- ously paid as provided by G.S. 105-381. /j) 'lax Receipts Charged to Collector. -- Tax receipts prepared as required by subsections Ihl and ii), above, for the tmxes and penalties imposed upon discovered property shall be delivered to the tax collector, and he shall he charged with their collection. Such receipts shall have the same force and effect as if they had been delivered to the collector at the time of the delivery of the regular tax receipts for the current year, and the taxes charged in the receipts shall be a lien upon the property in accordance with the provisiona of G.S. 105-355, (k) Power to Compromise. -- After a Lax receipt computed andprepared as required by subsections Ig) and Ih), above, has been delivered andcharged ~o the tax collector as prescribed in Subsection Ij), above, the board of county commissioners, upon the petition of the tmxpayer, may compromise, settle, or adjust the county's claim for taxes arising therefrom. The board of Commis- sioners may, by resolution, delegate the authority granted by this subsection to the board of equalization and review including any board created by reso- lution pursuant to G.S 105-322(a) and any special board established by ocal act. (1) Application to Municipal Corporations. -- The provisions of this section shall apply to all cities, towns, and other municipal corporations having the power to tax properW. Such governmental units shall designate an appropri- 94