How do I calculate greenbelt rollback?

Real properties

Calculate the tax due on a real property that was declared a greenbelt property and is now being sold. A greenbelt is a policy and land use zone designation used in land use planning to retain areas of largely underdeveloped, wild, or agricultural land surrounding or neighboring urban areas. When real property that was designated as greenbelt is sold, the owner becomes subject to the greenbelt rollback tax. The rollback tax is the difference between the taxes paid while on greenbelt and the taxes which would have been paid had the property been assessed at market value.

Calculating greenbelt rollback

1. Open Connect Property Tax Collection > Real Properties > Calculate Greenbelt Rollback.

The current date is the billing date.

2. Use the Property box to enter a parcel ID or property address.

This is the real property that you will calculate the greenbelt rollback amount.

Property box

3. Use the Look Back Years box to enter a number (1 to 99).

This is the number of years the routine will use to calculate the greenbelt rollback tax. The state property tax organization will determine the number of years preceding the change in use.

Look back years box

4. Use the Description box to enter a transaction description.

For example, Greenbelt rollback

Description box

5. Press Enter.

Connect "looks" at the market values of the real property for the specified number of previous years to calculate the greenbelt rollback tax.

202005, 2020Apr17