§ 551. Entry by assessor of omitted real property on current\nassessment roll. 1. The assessor of any assessing unit, upon his own\nmotion or upon the application of any taxpayer therein, shall enter on\nthe assessment roll of the current year, prior to the tentative\ncompletion thereof, any parcel of real property shown to have been\nomitted from the assessment roll of the preceding year, at the valuation\nof that year, or if not then valued, at such valuation as the assessor\nshall determine for the preceding year. A special franchise assessment\nafter apportionment thereof by the assessor, if necessary, or an\nassessment of state land subject to taxation for the preceding year\nwhich is less than the assessment thereof approved by the commissioner,\nshall be entered at the valuation determined by the commissioner.\n 2. Real property assessed pursuant to this section shall be taxed at\nthe tax rate or tax rates for the preceding year. The amount of tax or\ntaxes levied pursuant to this section shall be deducted from the\naggregate amount of taxes to be levied for the current year.\n
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