Payment upon withdrawal of land; lien
Sec. 18. (a) For purposes of this section, "initial classification
assessment" means the assessment required under section 5 of this
chapter, and "withdrawal assessment" means the assessment required
under section 14 or 15 of this chapter.
(b) If land that is classified as a filter strip is withdrawn from the
classification, the owner shall pay an amount equal to the lesser of:
(1) the sum of:
(A) the total property taxes that, if it were not for the
classification, would have been assessed on the land during
the lesser of the period of classification or the ten (10) year
period immediately preceding the date on which the land is
withdrawn from the classification; plus
(B) interest on the property taxes at the rate of ten percent
(10%) per year; or
(2) the remainder of:
(A) the withdrawal assessment of the land; minus
(B) the sum of the initial classification assessment of the
land and any increase in the initial classification of the land
resulting from the subsequent construction of a ditch or
levee.
(c) The liability imposed by this section is a lien upon the land
withdrawn from the classification. When the amount is collected, the
amount shall be paid into the county general fund. If the amount is
not paid, the lien shall be treated in the same manner that delinquent
taxes on real property are treated.
As added by P.L.55-1991, SEC.1. Amended by P.L.1-1992, SEC.14.
Last modified: May 28, 2006