What are rollback taxes and how are they triggered?
A12. The rollback tax is the difference between the taxes you paid on your land’s agricultural value and the taxes you would have paid if the land had been taxed on a higher market value for the last five (5) year. In addition, seven (7) percent interest is charged for each year from the date on which taxes would have been due. A rollback taxes for each of the previous five (5) years are triggered when the agriculture or timber use of land changes to nonagricultural use.
