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(b) All portions of land that are not committed or used for a specific <br /> agricultural use shall be assessed at 100 percent market value. <br /> (c) Application; filing: assessment effective: renewal. <br /> (1) The director shall prescribe the form of the non-dedicated <br /> agricultural use application. <br /> (2) The application shall be filed with the director by December 31 of <br /> anv calendar year. <br /> (3) The application for anon-dedicated agricultural use assessment <br /> must be signed by all owners of the land being committed. <br /> (4) If the application is approved. the assessment based upon the use <br /> requested in the application shall be effective as of January 1 for <br /> the following tax year. <br /> (5) Renewal of the application shall be in such form and at such time <br /> as required by the director. <br /> <br /> (d) Deferred or roll back tax. <br /> A deferred or roll back tax shall be imposed on the owner of the <br /> agricultural land upon anv of the following events: <br /> (A) Conversion to anv County zoned district other than <br /> agricultural, residential and agricultural, family <br /> agricultural. intensive agricultural. or agricultural project <br /> district as a result of a petition by the owner or lessee: <br /> (B) The propertv is subdivided into parcels of less than five <br /> acres in size: or <br /> (C) A condominium propertv regime is declared for the propertv <br /> having condominium units with an area equivalent to less <br /> than five acres in size. <br /> (2) The deferred tax shall commence from the date the <br /> conversion was made retroactive to the date the <br /> agricultural use assessment was approved, but for not <br /> more than a period of two years plus the current year. <br /> (31 The amount of deferred taxes shall be based on the <br /> difference in assessed value between the highest and <br /> best use and the agricultural use of the land. at the tax <br /> rate applicable for the respective years, with a ten <br /> percent penalty. <br /> 14 <br /> <br />