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1996 SESSION

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HB 641 Roll-back taxes.

Introduced by: Samuel A. Nixon, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

Roll-back taxes. Provides that the rezoning of real estate enrolled in a land use program to an industrial use will not trigger liability for roll-back taxes if the rezoning is requested by the local governing body. The property's eligibility for land use taxation will not be affected if the owner or his agent concurs in the governing body's rezoning request. Currently, the rezoning of real estate to a more intensive use triggers liability for roll-back taxes, and disqualifies the property from land use taxation, if the change in zoning is requested by the owner or his agent.


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