Loading chat...
VT H0273
Bill
Status
Introduced
2/19/2025
Primary Sponsor
Gregory Burtt
Click for details
AI Summary
- Lowers the income threshold for Use Value Appraisal Program eligibility from 50% to 25% of annual gross income derived from farming activities
- Reduces the land use change tax rate from 10% to 6% of full fair market value when enrolled agricultural or managed forestland is developed
- Expands the definition of "farmer" to include persons earning at least 25% of income from raising, feeding, or managing equines (horses)
- Maintains existing requirement that farmers processing crops in on-farm facilities must produce at least 75% of the crops processed on the enrolled land
- Takes effect upon passage
Legislative Description
An act relating to the Use Value Appraisal Program
Last Action
Read first time and referred to the Committee on Agriculture, Food Resiliency, and Forestry
2/19/2025
Committee Referrals
Agriculture, Food Resiliency, and Forestry2/19/2025
Full Bill Text
No bill text available