Change of ownership or legal description

(1) Subject to the other provisions of this section, land assessed under this part may continue to be assessed under this part if the land continues to comply with the requirements of this part, regardless of whether the land continues to have: (a) the same owner; or (b) legal description. (2) Notwithstanding Subsection (1), land described in Subsection (1) is subject to the rollback tax as provided in Section 59-2-506 if the land is withdrawn from this part. (3) Notwithstanding Subsection (1), land is withdrawn from this part if: (a) there is a change in: (i) the ownership of the land; or (ii) the legal description of the land; and (b) after a change described in Subsection (3)(a): (i) the land does not meet the requirements of Section 59-2-503; (ii) an owner of the land fails to submit a new application for assessment as provided in Section 59-2-508 within 120 days after the day on which a change described in Subsection (3)(a) occurs; or (iii) (A) an owner of the land submits the application required by this section; and (B) the county denies the application upon review. (4) Within 30 days from the day on which a county receives an application required by this section, the county shall: (a) review the application for completion; and (b) approve or deny the application. (5) Land under an application required by this section is not withdrawn from this part for the period in which the application is under review by the county.