(1) Any person who shall—
(a) become the owner of any land, or house, or both whether by purchase, gift, deed, parol or in any other manner whatsoever;
(b) dispose of any land, or house, or both whether by purchase, gift, deed, parol or in any other manner whatsoever;
shall, within 30 days after he or she has become the owner or disposer of the same, make a return in writing thereof to the Comptroller. Such return shall contain a true and correct statement of the description, situation, extent and market value of the said land or house or both and submission of the commercial property valuation in accordance with section 13(2) is satisfaction of this requirement. (Amended by Act 4 of 2011)
(2) Any person who shall erect, add to or otherwise substantially increase the value of any house, shall within 30 days thereafter, make a return in writing thereof to the Comptroller. Such return shall contain a true and correct statement of the description, situation and value of the same. (Amended by Acts 30 of 2001 and 4 of 2011)