I. Any person who fails to file a fully completed inventory form on or before April 15, unless granted an extension under N.H. Rev. Stat. § 74:8, shall pay a penalty of one percent of the property tax for which the person is liable. In no case, however, shall the penalty be less than $10 or more than $50. No person who fails to file an inventory form shall lose the right to apply for, or appeal the denial of, any other type of tax relief including an appeal under N.H. Rev. Stat. § 72:34-a, an appraisal under N.H. Rev. Stat. § 75:11, or a land use change tax under N.H. Rev. Stat. § 79-A:7. This penalty has all the force of taxation and shall be treated as incident to the tax.
II. If a town fails to deliver the inventory blank, the penalty shall not apply.
III. If the property is transferred during the tax year to a different owner and the inventory blank was mailed or delivered to the previous owner, the penalty shall not apply to the subsequent owner.