HB 5332 Summary

• Establishes a new assessment classification for public golf courses consisting of at least 25 acres, open to the public, deriving at least 50% of annual revenues from daily fees or group outings, and containing at least nine holes, effective October 1, 2014.

• Allows municipalities to adopt ordinances creating this new classification and requires golf course land to be valued as open space without regard to improvements like greens and tees, while buildings and parking lots are valued at fair market value.

• Imposes a graduated conveyance tax (10% declining to 1%) on classified golf course land sold within 10 years of classification, with a permanent 1% tax if land ceases to be classified as public golf course land after the 10-year period.

• Requires public golf course owners intending to sell classified land to give municipalities 120 days' written notice, allowing the municipality 90 days to purchase the property at 90% of the offered sale price if the sale would discontinue golf or recreational use, effective July 1, 2014.

• Extends existing conveyance tax provisions for farm, forest, and open space lands to include public golf course land and clarifies that classifications are personal to owners and do not run with the land.