§ 44-27-10 - Reclassification of land withdrawn from classification – Effect on obligations and the land use change tax.
SECTION 44-27-10
§ 44-27-10 Reclassification of landwithdrawn from classification – Effect on obligations and the land usechange tax. – Land, previously classified as farm, forest, or open space land, which waswithdrawn from that classification may be reclassified as that classificationif it still meets the requirements of this chapter. This reclassification ofthe land commences anew the computation of the period for purposes of the landuse change tax. Any unpaid lien obligated by the previous withdrawal is voided.At no time shall an obligation incurred under the provisions of this chapterexceed ten percent (10%) of the then fair market value of the land.