§ 23-28. Roll-back tax when changes to nonqualifying use.

There is hereby imposed a roll-back tax, and interest thereon, in such amounts as may be determined under Section 58.1-3237 of the Code of Virginia, upon any property as to which the use changes to a nonqualifying use under this article. The owner of any real estate liable for such roll-back tax shall, within sixty (60) days following a change in use, report such change to the commissioner of revenue on such forms as may be prescribed. The commissioner shall forthwith determine and assess the roll-back tax, which shall be paid to the county treasurer within thirty (30) days of assessment. On failure to report within sixty (60) days following such change in use or failure to pay within thirty (30) days of assessment, such owner shall be liable for an additional penalty equal to ten (10) percent of the amount of the roll-back tax and interest, which penalty shall be collected as a part of the tax. In addition to such penalty, there is hereby imposed interest on delinquent payments at the rate established in section 23-2 of this chapter.

(Code 1977, § 9-15; Res. No. 03-12-09, 12-23-03)

State Law reference— Similar provisions, Code of Virginia, § 58.1-3238.

(Code 1977, § 9-15; Res. No. 03-12-09, 12-23-03)

State law reference

Similar provisions, Code of Virginia, § 58.1-3238.