PENALTY PROVISION OF CURRENT USE LAW
40-7-25.3 Conversion of property to other taxable use.
If the sale or other disposition of taxable property qualified for assessment based on its current use value results in or is followed by the conversion of such property, within two years from the date of sale or other disposition, to a use that is not so qualified, then with respect to such property, there shall be levied and collected, in the ad valorem tax year beginning on October 1 next succeeding the conversion of such property, an amount of additional taxes to be computed in the manner provided by this section. If taxable property qualified for assessment at its current use value is converted to a use not so qualified, then the tax assessor shall thereupon appraise such property in accordance with the provisions of section 40- 7-15 and section 40-7-25, Code of Alabama 1975, as amended, and shall compute the amount of additional taxes payable with respect to such property in the manner provided in this section. The owner of taxable property qualified for assessment at it current use value which is converted to a use not qualified shall so notify the tax assessor of the county in which such property is located, on and after October 1, but not later than January 1 in the taxable year next succeeding the taxable year in which such conversion is made.