Reduced Assessment for Farmland

Land devoted to agricultural or horticultural use may be assessed for property tax purposes on its value for those uses as well as its productivity rather than on the market value of the land for any other use. To qualify, the land must be a minimum of five acres which are devoted to agriculture or horticulture for at least two consecutive years prior to the tax year and must continue in that use until the end of the tax year for which the claim is made. The land usage must result in product sales or anticipated product sales totaling at least $1,000 per year for the first five acres, plus $5.00 per acre for each acre over five, except woodland or wetland where the minimum income must be $500 per year for the first 5 acres, plus $.50 per acre for any acreage over five. The reduced assessment must be applied for on Form FA-1 annually on or before August 1.