DE SB35

Extends Delaware's existing farmland tax assessment program to include "qualified farm structures" such as poultry houses and buildings used to store farm implements, agricultural commodities, crops, livestock, and livestock products

Requires the State Farmland Evaluation Advisory Committee to establish fair value ranges for qualified farm structures based on their agricultural productive capabilities, similar to current farmland valuation methods

Imposes roll-back taxes when qualified farm structures are converted to non-agricultural use, calculated as the difference between preferential agricultural assessments and standard property tax assessments for the preceding tax year

Mandates property owners notify the assessing authority within one year of any change in qualified farm structure eligibility, with a 20% penalty on roll-back taxes for failure to report

Allows automatic annual renewal of qualified farm structure applications unless eligibility changes, mirroring the existing process for farmland assessments