Any land which has been classified by the owner as farm land pursuant to section 12-107c, forest land pursuant to section 12-107d, open space land pursuant to section 12-107e or maritime heritage land pursuant to section 12-107g, if changed by him, within a period of ten years of his acquisition of title, to use other than farm land, forest land, open space land or maritime heritage land, shall be subject to said conveyance tax as if there had been an actual conveyance by him, as provided in sections 12-504a and 12-504b, at the time he makes such change in use. For the purposes of this section: (1) The value of any such property shall be the fair market value thereof as determined by the assessor in conjunction with the most recent revaluation, and (2) the date used for purposes of determining such tax shall be the date on which the use of such property is changed, or the date on which the assessor becomes aware of a change in use of such property, whichever occurs first.
(1972, P.A. 152, S. 5; P.A. 74-343, S. 3, 7; P.A. 05-190, S. 9; P.A. 07-127, S. 8; P.A. 08-124, S. 4.)
History: P.A. 74-343 specified classification within ten-year period of acquisition of title and made technical changes for clarity; P.A. 05-190 revised provision re use of fair market value to determine value of property and added provision re date used for determining the tax, effective July 1, 2005, and applicable to sales, transfers or changes in use of land classified as farm land, forest land or open space land that occur on or after that date; P.A. 07-127 added references to Sec. 12-107g and maritime heritage land and made technical changes, effective July 1, 2007; P.A. 08-124 made a technical change, effective June 2, 2008.
Cited. 176 C. 613.
Cited. 32 CS 82; 34 CS 52.
Structure Connecticut General Statutes
Chapter 223 - Real Estate Conveyance Tax
Section 12-494a. - Deposit of portion of tax in municipal revenue sharing account.
Section 12-495. - Payment of tax. Endorsement.
Section 12-496. - Endorsement in cases of tax exemption.
Section 12-497a. - Exemptions.
Section 12-498. - Exempt transactions.
Section 12-499. - Disposition of revenues.
Section 12-500. - Allocation of tax among municipalities.
Section 12-501 and 12-502. - False statement of tax prohibited. Penalty.
Section 12-502a. - Administrative provisions. Penalties. Hearings and appeals.
Section 12-502b. - Deficiency assessment.
Section 12-503. - Recording without payment of tax as constructive notice.
Section 12-504. - Effect of federal transfer tax.
Section 12-504b. - Payment of tax; land declassified; assessment change.
Section 12-504c. - Excepted transfers. Change of ownership requirements.
Section 12-504e. - Conveyance tax applicable on change of use or classification of land.
Section 12-504g. - Recording without payment of tax as constructive notice.