4.__Assessments.__Classified land must be taxed at the property tax rate applicable:

A.__To other property in the municipality if the land is in an organized area; or

B.__To other property in the unorganized territory if the land is in the unorganized territory.

§1135.__Change of ownership

1.__Change in ownership determined.__A change of ownership is:

A.__For commercial properties, a change in controlling interest of the company owning the land as defined in federal tax code; and

B.__For all other properties, a transfer by sale or grant to a transferee by a transferor of all or any part of the transferor's legal or equitable ownership interest in a property except for a transfer:

(1)__To a trustee for the beneficial use of the spouse of the transferor or the surviving spouse of a deceased transferor;

(2)__To the spouse of the transferor that takes effect upon the death of the transferor;

(3)__That creates, transfers or terminates, solely between spouses, any coowner's interest;

(4)__To one or more direct relatives of the transferor;

(5)__To any person by bequest;

(6)__That confirms or corrects a previous transfer made by a document that was recorded in the real estate records of the county in which the land is located;

(7)__For the purpose of quieting the title to real property or resolving a disputed location of a real property boundary;