The use value and fair market value of any property qualifying
under this article shall be placed on the land book before delivery
to the County Treasurer, and the tax for the next succeeding tax year
shall be extended from the use value.
If on April 1 of any year the taxes for any prior year on any
parcel of real property which has a special assessment under this
article are delinquent, the Treasurer of the County shall forthwith
send notice of that fact and the provisions of this article to the
property owner by first-class mail. If, after the notice has been
sent, such delinquent taxes remain unpaid on June 1, the Treasurer
shall notify the Commissioner of Revenue, who shall remove such parcel
from the land use program effective for that current tax year.
Any person making a material misstatement of fact in any application
filed pursuant to this article shall be liable for all taxes, in such
amounts and at such times as if such property had been assessed on
the basis of fair market value as applied to other real estate in
the County, together with interest and penalties thereon, and the
owner shall be further assessed with an additional penalty of 100%
of such unpaid taxes.
The provisions of Code of Virginia, Title 58.1, applicable to
local levies and real estate assessment and taxation shall be applicable
to assessments and taxation under this article mutatis mutandis, including,
without limitation, provisions relating to tax liens and the correction
of erroneous assessments, and, for such purposes, the rollback taxes
shall be considered to be deferred real estate taxes.
This article shall be effective for all tax years beginning
on and after January 1, 2004.