PRESENT-USE VALUE PROGRAM QUALIFICATIONS

Present Use Valuation is the value of land in its current use as agricultural land, horticultural land or forestland. The land meeting the eligibility requirements is taxed on the use value instead of market value of the land.

Eligibility

Agricultural Land Use

• Agricultural land consisting of one or more tracts, one of which consists of at least 10 acres that are in actual production AND,
• For the three years preceding January 1 of the year for which the benefit is claimed, have produced an average gross income of at least $1,000.

Horticultural Land Use

• Land consisting of one or more tracts, one of which consists of at least five acres that are in actual production AND,
• For the three years preceding January of the year the benefit is claimed, have either produced an average gross income of $1,000 or been used to produce evergreens intended for use as Christmas trees and meet gross income requirements.

Forestry Land Use

• Forestland consisting of one or more tracts, one of which consists of at least 20 acres that are in actual production AND,
• An updated forestry management plan on file with the assessor's office.

Application

Present Use Value Assessment Application (AV-5)

Applications for this program (form AV-5) must be filed in the month of January of the current year. An application required due to the transfer of the land may be submitted any time during the calendar year but must be submitted within 60 days of the date of the property’s transfer.

THIS IS A DEFERRED TAX PROGRAM. If property loses its eligibility for any reason, deferred taxes become due for the current year plus three years, plus interest for all prior years. If only a part of the qualifying tract loses its eligibility, a determination shall be made of the amount of deferred taxes applicable to that part, and that amount shall become payable with interest.