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2174.485 Penalty for converting agricultural land. (1)
Definition. In this
22section, "agricultural land" has the meaning given in s. 70.32 (2) (c) 1.
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1(2) Penalty. Except as provided in sub. (4), a person who owns land that has
2been assessed as agricultural land under s. 70.32 (2r) and who converts the land's
3use so that the land is not eligible to be assessed as agricultural land under s. 70.32
4(2r), as determined by the assessor of the taxation district in which the land is
5located, shall pay a penalty to the county in which the land is located in an amount,
6calculated by the county treasurer, that is equal to the number of acres converted
7multiplied by the amount of the difference between the average fair market value of
8an acre of agricultural land sold in the county in the year before the year that the
9person converts the land, as determined under sub. (3), and the average equalized
10value of an acre of agricultural land in the county in the year before the year that the
11person converts the land, as determined under sub. (3), multiplied by the following:
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(a) Five percent, if the converted land is more than 30 acres.
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(b) Seven and one-half percent, if the converted land is 30 acres or less but at
14least 10 acres.
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(c) Ten percent, if the converted land is less than 10 acres.
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16(3) Value determination. Annually, the department of revenue shall
17determine the average equalized value of an acre of agricultural land in each county
18in the previous year, as provided under s. 70.57, and the average fair market value
19of an acre of agricultural land sold in each county in the previous year based on the
20sales in each county in the previous year of parcels of agricultural land that are 38
21acres or more to buyers who intend to use the land as agricultural land.
