Problem $1-4($L$.3.3)$

Several years ago, Ethan purchased the former parsonage of St$.$ James Church to use as a personal residence. To date, Ethan has not received any ad valorem property tax bills from either the city or the county tax authorities.

a$.$ Select either "True" or "False" as reasonable explanation$($s$)$ for this oversight.

Ethan is allowed to use the tax$-$exempt status for ad valorem taxes for five years after the purchase.

$$

The parsonage probably was not listed on the property tax rolls, because it was owned $q,$ by a tax$-$exempt church.

The parsonage remains tax$-$exempt, since the original use was by a tax$-$exempt entity. $q,$

b$.$ What should Ethan do$?$

If Ethan voluntarily notifies the tax authorities of his purchase, he $$ be liable for any back taxes and he

$$ eliminate future interest and penalties.