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(A) When real estate that has been taxed according to special assessment changes to a non-qualifying use there is hereby imposed a rollback tax, and interest thereon, in such amounts as may be determined under VA Code § 58.1-3237.
(B) The owner of any real estate liable for rollback taxes shall, within 60 days following a change in use of such property to a non-qualifying use, report such change to the Commissioner of the Revenue or other assessing officer on such forms as may be prescribed. The Commissioner shall determine and assess the rollback tax, which shall be assessed against and paid by the owner of the property at the time the change in use which no longer qualifies occurs and shall be paid to the Treasurer within 30 days of the assessment. Any person failing to report properly any change in use of property for which an application for use value taxation had been filed within 60 days following such change shall be liable for all such taxes, in such amounts and at such times as if he or she had complied herewith and assessments had been properly made. Further, upon failure to report within 60 days following such change in use and/or failure to pay within 30 days of assessment, such owner shall be liable for an additional penalty equal to 10% of the amount of the rollback tax and interest, which penalty shall be collected as a part of the tax. In addition to such penalty for failure to make the required report, there is hereby imposed interest of 0.5% of the amount of the rollback tax, interest, and penalty, for each month or fraction thereof during which the failure continues.
(C) Any person making material misstatement of fact in any application filed pursuant hereto shall be liable for all taxes, in such amounts and at such times as if such property had been assessed on the basis of fair market value as applied to other real estate in the taxing jurisdiction, together with interest and penalties thereon. If such material misstatement was made with the intent to defraud the county, he or she shall be further assessed with an additional penalty on 100% of such unpaid taxes.
(Ord. passed 5-10-1990; Ord. passed 4-14-2011; Ord. passed 4-13-2017)