§ 3-2-210. Change in use of real estate devoted to open-space use.

(a)

When real estate qualifies for assessment and taxation on the basis of use, and the use by which it qualified changes to a nonqualifying use, it shall be subject to additional taxes, hereinafter referred to as rollback taxes, in an amount equal to the amount, if any, by which the tax paid or payable on the basis of the valuation, assessment and taxation under this division were exceeded by the taxes that would have been paid or payable on the basis of the valuation, assessment or taxation of real estate in the city in the year of the change and in each of the five years immediately preceding the year of the change, plus simple interest on such rollback taxes at the same interest rate applicable to delinquent taxes in the city. If in the tax year in which the change of use occurs, the real estate was not valued, assessed and taxed under this division, the real estate shall be subject to rollback taxes for such of the five years immediately preceding in which the real estate was valued, assessed and taxed under this division.

(b)

In determining rollback taxes chargeable on real estate which has changed in use, the real estate assessor shall extend the real estate lax rates for the current and next preceding five (5) years, or such lesser number of years as the property has been taxed on its use value, upon the difference between the value determined under section 3-2-209 and the use value determined under section 3-2-206 for each such year.

(c)

Liability to the rollback taxes shall attach when a change in use occurs, but not when a change in ownership of the title takes place if the new owner continues the real estate in the use for which it is classified under the conditions prescribed in this division. The owner of any real estate liable for rollback taxes shall within 60 days following a change in use, report the change to the real estate assessor on forms prescribed by him. The assessor shall forthwith 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. (Code 1963, Sec. 36-83.12)