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classified as tree farm property pursuant to chapter 186, Hawaii Revised Statutes, <br /> shall be considered for classification and valuation as agricultural. <br /> <br /> (2) A deferred or rollback tax shall be imposed on the owner of agricultural lands <br /> assessed according to its agricultural use as provided in subsection (f) of this <br /> section in the event of a change in land use classification by the authorized <br /> government agency to urban or rural districts or upon the subdivision of the land <br /> into parcels of less than five acres, provided that the deferred or rollback tax shall <br /> not apply if the owner has dedicated the land as provided in section 19-55 before <br /> the change in land use classification to urban or rural districts or subdivision of <br /> the land into parcels of less than five acres, and fulfills all of the requirements of <br /> the dedication. The deferred or rollback tax shall commence from the date the <br /> conversion to urban or rural districts or into parcels less than five acres was made <br /> retroactive to the date the assessment was made pursuant to subsection (f) of this <br /> section but for not more than ten years. Any other provisions to the contrary <br /> notwithstanding the deferred or rollback tax shall apply to a change in land use <br /> classification only if such change was made as a result of a petition by a property <br /> owner or lessee and shall apply only upon lands owned by the owner or lessee <br /> who has petitioned for the change in classification. The deferred or rollback tax <br /> shall not apply to lands owned by any owner or lessee who has not petitioned for <br /> the change in classification or where the change in classification or zoning is <br /> initiated by any government agency or instrumentality. The deferred or rollback <br /> tax shall be based on the difference in assessed value between the highest and best <br /> use and the agricultural use of the land, at the rate applicable for the respective <br /> years. All differences in the amount of taxes that were paid and those that would <br /> have been due from assessment in the higher use shall be payable with a ten <br /> percent penalty from the respective dates that these payments would have been <br /> due. The additional taxes and penalties due and owing shall be a paramount lien <br /> upon the property as provided for by this chapter. <br /> (A) Where the owner changes the land use classification or subdivides the land <br /> into parcels of less than five acres, the deferred or rollback tax shall be due <br /> and payable within sixty days of such conversion, subject to a ten percent <br /> penalty. If the owner has dedicated the land as provided in section 19-55 <br /> before the change in the land use classification or subdivision into parcels <br /> of less than five acres, and any owner of the dedicated land or subdivided <br /> parcels later breaches a condition of the dedication before its completion, <br /> deferred or rollback taxes shall be imposed on the subject parcel under <br /> section 19-55 and this section, retroactive from the end of the tax year in <br /> which the breach occurs. <br /> (B) In any case in which deferred or rollback taxes are imposed after <br /> successful completion of an agricultural dedication period, the deferred or <br /> rollback taxes shall be retroactive only to the end of the completed <br /> dedication period, and shall not be imposed for any time covered by a <br /> successfully completed agricultural dedication period. In cases involving <br /> 4 <br /> <br />