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<br /> [(f)(1) In determining the value of lands which are classified and used for <br /> agriculture, whether such lands are dedicated pursuant to section <br /> 19-55 or not, consideration shall be given to rent, productivity, <br /> nature of actual agricultural use, the advantage or disadvantage of <br /> factors such as location, accessibility, transportation facilities, size, <br /> shape, topography, quality of soil, water privileges, availability of <br /> water and its cost, easements and appurtenances, and to the <br /> opinions of persons who may be considered to have special <br /> knowledge of land values. Lands classified <br /> as tree farm property pursuant to chapter 186, Hawaii Revised <br /> Statutes, shall be considered for classification and valuation as <br /> agricultural. <br /> (2) A deferred or rollback tax shall be imposed on the owner of <br /> agricultural lands assessed according to its agricultural use as <br /> provided in subsection (f) of this section in the event of a change in <br /> land use classification by the authorized government agency to <br /> urban or rural districts or upon the subdivision of the land into <br /> parcels of less than five acres, provided that the deferred or <br /> rollback tax shall not apply if the owner has dedicated the land as <br /> provided in section 19-55 before the change in land use <br /> classification to urban or rural districts or subdivision of the land into <br /> parcels of less than five acres, and fulfills all of the requirements of <br /> the dedication. The deferred or rollback tax shall commence from <br /> the date the conversion to urban or rural districts or into parcels <br /> less than five acres was made retroactive to the date the <br /> assessment was made pursuant to subsection (f) of this section but <br /> for not more than ten years. Any other provisions to the contrary <br /> notwithstanding, the deferred or rollback tax shall apply to a change <br /> in land use classification only if such change was made as a result <br /> of a petition by a property owner or lessee and shall apply only <br /> upon lands owned by the owner or lessee who has petitioned for <br /> the change in classification. The deferred or rollback tax shall not <br /> apply to lands owned by any owner or lessee who has not <br /> petitioned for the change in classification or where the change in <br /> classification or zoning is initiated by any government agency or <br /> instrumentality. The deferred or rollback tax shall be based on the <br /> difference in assessed value between the highest and best use and <br /> the agricultural use of the land, at the rate applicable for the <br /> respective years. All differences in the amount of taxes that were <br /> paid and those that would have been due from assessment in the <br /> higher use shall be payable with a ten percent penalty from the <br /> respective dates that these payments would have been due. The <br /> additional taxes and penalties due and owing shall be a paramount <br /> lien upon the property as provided for by this chapter. <br /> 6 <br /> <br />