§ 4-19-9. Imposition of roll-back tax when use changes.

(a)

When real estate that has been taxed according to special assessment, changes to a nonqualifying use as provided in Code of Virginia, §§ 58.1-3237 and 58.1-3241, as amended, there is hereby imposed a roll-back tax, and interest thereon in accordance with Code of Virginia, § 58.1-3237, as amended.

(b)

The owner of any real estate liable for roll-back taxes shall, within sixty days following a change in use, report such change to the Director of the Department of Tax Administration on such forms as may be prescribed by the Director. The Director shall forthwith determine and assess the roll-back tax, which shall be paid to the County within thirty days of assessment. On failure to report within sixty days following such change in use and/or failure to pay within thirty days of assessment, such owner shall be liable for an additional penalty equal to ten percent of the amount of the roll-back tax and interest, which penalty shall be collected as a part of the tax. In addition to such penalty, there is hereby imposed interest of one-half percent of the amount of the roll-back tax, interest and penalty for each month or fraction thereof during which the failure continues.