Farm & Open Space Land Laws
Farm Land
Farm land under this statute means land registered for long-term use in agricultural production.
Valuation:
The assessor establishes the 100% valuation per acre on a current use basis, i.e. reflecting their value as agricultural land, not as developable land.
Requirements:
At least one of the applicant's tracts must be 5 contiguous acres which produces a gross income of at least $2000 per year in one of the two or three of the five calendar year preceding the date of application. By April 1 of each fifth year, the owner must file an income report of the gross agricultural income derived from the subject property.
Withdrawal:
Should the owner change the use of part or all of the property, a substantial penalty is assessed.
Open Space Land
Open space land under this statute means registered land, the preservation or restriction of the use of which provides a defined public benefit.
Valuation:
Either market value of open space land or an alternative percentage-based method is used. In the percentage method, a reduction from market value is granted for each restriction placed on the subject property:
- Ordinary open space land -20%
- Permanently protected -30%
- Forever wild -20%
- Public access -25%
In no case can the land be valued at less than the prevailing tree growth valuation.
Requirements:
A public benefit must be obtained in one or more of the following areas:
- Conserving scenic resources
- Enhancing public recreation opportunities
- Promoting game management
- Preserving wildlife or wildlife habitat
Withdrawal:
Should the owner change the use of part or all of the property, a substantial penalty is assessed.