Withdrawal of classification; tax payments; liens
Sec. 24. (a) If land that is classified as native forest land or as a
forest plantation is withdrawn from the classification, the owner shall
pay an amount equal to the sum of:
(1) the total property taxes that, if it were not for the
classification, would have been assessed on the land during the
period of classification or the ten (10) year period immediately
preceding the date on which the land is withdrawn from the
classification, whichever is lesser; plus
(2) interest on the property taxes at the rate of ten percent
(10%) simple interest per year.
(b) The liability imposed by this section is a lien upon the land
withdrawn from the classification. When the amount is collected, it
shall be paid into the county general fund. If the amount is not paid,
it shall be treated in the same manner the delinquent taxes on real
property are treated.
(c) The county auditor shall determine the tax owed under
subsection (a) using the assessment required in section 10(a) of this
chapter.
(Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.28-1990,
SEC.4; P.L.1-1993, SEC.28; P.L.186-2003, SEC.22.
Last modified: May 28, 2006