Section 44-27-9 - Change of ownership - Procedure for continuance of classification - Effect on land use change tax(a) Upon the change of ownership of title, as recorded in the land evidence records of the city or town, of land previously classified as farm, forest, or open space land, the assessor of the city or town where the land is located shall notify the new owner that the land is classified as farm, forest, or open space and that land withdrawn from that classification is subject to the land use change tax provided for in § 44-5-39. The new owner may apply to the local assessor for continuance of classification and special assessment as provided in § 44-5-12. Upon certification by the new owner that the land continues its use as farmland, its management as forest land, or its preservation as open space land, the assessor shall continue it as that on the assessment list and notify the director of environmental management of the change in ownership.(b) A change of ownership of land classified as farm, forest, or open space land, except for change in ownership through inheritance or interfamily transfer, where the new owner continues its classification as farm, forest, or open space land, commences anew the computation of the period the land has been so classified for the purposes of determining the land use change tax provided for in § 44-5-39.(c) For the purposes of this section, transfer of ownership of land from an individual to a corporation wholly owned by that individual and/or his or her immediate family is not considered a change of ownership of the land. Where the owner of land classified under this chapter is a corporation, any change in ownership of ten percent (10%) or more of the outstanding common stock of the corporation is considered a change in ownership of the land, and shall be reported to the assessor of the town or city in which the land is located.(d) New owners of land previously classified as farm, forest, or open space land who do not apply for continuance of classification as in subsection (a) of this section are considered to have voluntarily withdrawn the classification and become liable for the land use change tax in effect at the time of change of ownership. This tax is determined by the assessor within forty-five (45) days of the end of the recertification period provided for in subsection (a) of this section and falls due at the time the use of the land is changed. This tax constitutes a lien against the land and runs with the deed until the obligation is satisfied.