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IN SB0558
Bill
Status
1/20/2015
Primary Sponsor
Michael Delph
Click for details
AI Summary
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Establishes new criteria for classifying land as agricultural land for property tax assessment, including land ordinarily used for growing crops, raising livestock or poultry, and certain undeveloped land adjacent to water bodies or woodlands.
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Requires undeveloped land (ponds, lakes, rivers, streams, woodlands, wetlands, fields, thickets, ravines) to be assessed as agricultural land regardless of owner's motives, zoning designation, or current farming activities.
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Mandates county assessors review assessments of land classified as excess residential property for 2005-2015 assessment dates and reclassify eligible parcels as agricultural land effective for the 2016 assessment date.
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Authorizes tax refunds for excessive payments made during 2005-2015 due to improper reclassification, with refund claims barred if submitted after December 31, 2017.
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Applies existing contract limitations prohibiting percentage-based compensation to any contracts for identifying, consulting on, or defending decisions to reclassify parcels.
Legislative Description
Land classification for tax purposes. Specifies the criteria for classifying land as agricultural land for property tax assessment purposes. Provides that certain undeveloped lands must be assessed as agricultural land regardless of the motives of the owner at the time the owner acquired the land, the zoning designation of the land, or whether the owner uses the land for growing crops or raising livestock or is otherwise engaged in the business of farming. Requires assessing officials to review for compliance with the new criteria the assessments of lands that had been classified as excess residential property for the 2005 through
Last Action
First Reading: referred to Committee on Tax & Fiscal Policy
1/20/2015