All notices and requests provided pursuant to this subsection must be made by personal delivery or certified mail and must conspicuously state the consequences of the taxpayer's failure to respond to the notice or request in a timely manner.

If an exemption has already been granted and the State Tax Assessor subsequently determines that the property is not entitled to exemption, a supplemental assessment must be made within 3 years of the original assessment date with respect to the property in compliance with section 713, without regard to the limitations contained in that section regarding the justification necessary for a supplemental assessment.

2.__False filing.__An individual who knowingly gives false information for the purpose of claiming an exemption under this subchapter commits a Class E crime.

3.__Continuation of eligibility.__A person must annually file the report required by this section for all eligible business equipment, even though there may be no substantive change in the property from one year to the next.

§694.__Duty of assessor; reimbursement by State

1. Examination and identification.__The assessor shall examine each report pursuant to section 693 that is timely filed, determine whether the property is entitled to an exemption under this subchapter and determine the just value of the property.

2.__Entitlement to reimbursement by State; calculation.__ Notwithstanding section 661, upon proof in a form satisfactory to the bureau, a municipality that has approved exemptions under this subchapter may recover from the State the taxes lost by reason of the exemption according to the following schedule:

A.__For tax years 2007 and 2008, 75% of the property tax revenue lost; and