(1) The prescribed authority shall, on receipt of the declaration referred to in section 5, or on the basis of information received by him, determine in such manner as may be prescribed the annual value of a building or part thereof and the amount of the building tax payable by the owner for the period during which he continues to be the owner of such building or part thereof, after giving him a reasonable opportunity of being heard.
(2) The prescribed authority shall, in such manner as may be prescribed, demand, by a notice, from the owner of a building or part thereof the amount of the building tax determined under sub-section (1) for the period during which such person continues to be the owner of such building or part thereof.
(3) On the service of notice upon the owner of a building or part thereof under sub-section (2), the amount of building tax, if not paid within the prescribed time, shall be a charge upon the building or part thereof of the defaulting owner and every other charge created subsequent to the service of the notice under sub-section (2) shall be postponed.