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tax classification since the "rollback tax was imposed upon an
act, changing the property's use from agriculture to non-
agriculture, which involves [an exercise of] an incident of
ownership of [the] property."
Respondent, on the other hand, maintains that, just as
petitioner does not dispute that the $55,003.30 of ad valorem
taxes assessed on the land were real property taxes, there should
be no dispute that rollback taxes assessed at the Property's
market value are real property taxes. The only difference
between the two is the amount of the assessed value of the land.
Respondent further asserts that the rollback tax is nothing like
the transfer tax at issue in Rev. Rul. 80-121, 1980-1 C.B. 43,
since the former is imposed on the value of real property,
whereas the latter is imposed solely on gains from the sale or
exchange of real property.
We agree with petitioner that not every tax concerning real
property is a real property tax within the scope of section
164(a)(1). See, e.g., Rev. Rul. 80-121, 1980-1 C.B. 43.
However, the fact that the property's owner-user controls the
timing of the imposition of the rollback tax is not enough, by
itself, to remove such a tax from the definition of a real
property tax. Upon examination, the rollback tax meets each of
the guidelines set forth in Rev. Rul. 80-121, 1980-1 C.B. 43.
The linchpin of petitioner's argument, that the rollback tax
is triggered by an incident of ownership (the use of the
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