BIL 043 Draft 03 2022-2024 - Laserfiche WebLink

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(B) The owner will use the land for that new commercial agricultural activity if the petition is approved. (2) If an owner is permitted to change the use as provided in this subsection, the owner shall be allowed up to twelve months from the effective date of the petition to convert to the new commercial agricultural category. This conversion must be completed prior to the end of the dedication period. (3) The petitioner shall submit progress reports of the petitioner's efforts in converting from one commercial agricultural category to another commercial agricultural category to the director of finance by the anniversary date of the petition approval and ,may, thereafter, as long as such conversion period remains. (4) If the owner fails to make the conversion within the specified time limit, the owner will be subject to the taxes and penalties provided herein. (5) Any other provision to the contrary notwithstanding, an approved change in use as provided herein shall not alter the original dedication period. (�f} Breach of dedication; deferred or rollback taxes, penalties and interest. (1) A deferred or rollback tax shall be imposed on the owner of short-term commercial agricultural use dedicated lands upon failure of the owner to observe any restriction, condition, or provision on the use of the land. (2) The deferred or rollback tax shall commence from the date the failure to observe the restriction, condition, or provision,retroactive to the date the assessment was made but for not more than three.years. (A) Failure to observe the restrictions on the use means failure for a period of six consecutive months to use the land in the manner requested in the petition or the overt act of changing the use for any period, provided that the petition by the owner for a change in use as provided in subsection (f), and the owner's subsequent change in use of such dedicated lands, shall not be deemed to constitute a failure of the owner to observe the restrictions on the use. (B) Any other provisions to the contrary notwithstanding, when a portion of the dedicated land is subsequently applied to a use other than the use set forth in the original petition, only such portion as is withdrawn from the dedicated use and applied to a use other than the commercial agricultural category shall be taxed as provided by this subsection. (3) Calculating deferred or rollback taxes. (A) The deferred or rollback tax shall be based on the difference between the assessed market value at highest and best use and the short-term commercial agricultural use of the land at the rate applicable for the respective (B) All differences in the amount of taxes that were paid and those that would have been due from assessment in the higher use shall be due and payable with a ten percent penalty. (C) If the owner of dedicated land breaches a condition of the dedication before its completion, deferred or rollback taxes shall be imposed on the subject parcel, retroactive from the end of the tax year in which the breach occurs. (D) In any case in which deferred or rollback taxes are imposed after successful completion of an agricultural dedication period, the deferred or rollback taxes shall be retroactive only to the end of the completed dedication period, and shall not be imposed for any time covered by a successfully completed agricultural dedication period. 10