Procedure upon failure to return correct inventory

When a person willfully omits to make, swear to, and deliver an inventory, or to answer any interrogatory therein as required by this chapter, or makes a false answer or statement therein, or if the listers believe that an inventory does not contain a full, true, and correct statement of the taxable property of such person, the listers shall ascertain as best they can the amount of the taxable property of such person and appraise the same at its fair market value. When, in the opinion of the listers, the amount so obtained is less than the amount of the taxable property of such person, they shall further appraise his or her property at a sum that will, in their judgment, equal the difference between the amount of such appraisal and the amount of his or her taxable property. When taxable property of such person is not ascertainable by the listers, they shall appraise the property of such person at a sum that, in their judgment, is the fair market value of all the taxable property owned by him or her.
The amount so obtained, multiplied by the percent of fair market value that is used by the listers in the town in which the property is situated shall be the listed value, one percent of which shall constitute the grand list of such person.