Chapter 3.35
TAX REASSESSMENT FOR LAND USE CHANGE VALUED UNDER WIS. STAT. § 70.32

Sections:

3.35.010    Tax reassessment for land use change valued under Wis. Stat. § 70.32.

3.35.010 Tax reassessment for land use change valued under Wis. Stat. § 70.32.

1.    If a person who owns land that has been valued under Wis. Stat. § 70.32(2r) changes the use of the land so that the land is not qualified for such valuation under Wis. Stat. § 70.32(2r), there is imposed on that person a penalty equal to the difference between the property taxes that would have been levied on the land had the land been assessed at full market value and the property taxes levied on the land for the last two years the land has been valued under Wis. Stat. § 70.32(2r).

2.    A person who owns land that has been valued under Wis. Stat. § 70.32(2r) and who sells the land shall notify the buyer of the land that the land has been valued under Wis. Stat. § 70.32(2r).

3.    Any amount due under subsection (1) of this section shall be paid to the Town of East Troy, which shall thereafter distribute the amount to other qualifying jurisdictions, less the cost of enforcing this chapter. (2008 code § 2.10)