Agricultural Real Property Special Assessment Ratio
1. Qualifications and Requirements
Agricultural real property which is actually used for such purposes and meets certain size or income
restrictions, not including, however, a corporation which is the owner or lessee except for certain
corporations which do not:
Have more than 10 shareholders
Have as a shareholder a person (other than an estate) who is not an individual
Have a nonresident alien as a shareholder, and
Have more than one class of stock
Timberland tracts must be at least five acres. Tracts of timberland must be devoted actively to
growing trees for commercial use. Tracts of timberland less than five acres may be eligible for
agricultural classification if any of the following conditions are met.
The tract is contiguous to another timberland tract of at least five acres.
The tract is under the same management system as another qualifying timberland tract.
The tract is owned in combination with non-timberland tracts that qualify as agricultural real
Non-timberland (cropland) tracts must be at least 10 acres. Tracts of non-timberland less than 10
acres may be eligible for agricultural classification if any of the following conditions are met:
Contiguous tracts with identical ownership meet the minimum acreage requirement when added
The person making the application earned at least $1,000 gross farm income in at least three of
the past five years or at least three of the first five years if this is an initial application.
The property has been owned by current owner or immediate family member of the current
owner for at least ten years ending January 1, 1994 and the property is classified as agricultural
real property for tax year 1994.
2.Definition of Agricultural Real Property
Agricultural real property shall mean any tract of real property which is used to raise, harvest or
store crops, feed, breed, or manage livestock, or to produce plants, trees, fowl, or animals useful to
man, including the preparation of the products raised thereon for man's use and disposed of by
marketing or other means. It includes, but is not limited to, such real property used for agricultural,
grazing, horticulture, forestry, dairying, and mariculture. In the event at least 50% of real property
tract shall qualify as "agricultural real property", the entire tract shall be so classified, provided no
other business for profit is being operated thereon. The term "agricultural real property" shall not
include any property used as the residence of the owner or others in that the taxation of such
property is specifically provided for in Section 2 (C) and (E) of Act 208.
3. Rollback Tax Estimation Formula
Find the current Market Value of subject property
Multiply the Market Value X .06
Find the current Assessed Value of subject property
Compute the difference of Line 2 & Line 3
Multiply this difference by the Millage Rate, for each tax year being rolled back on.
Note: Rollback tax estimates should be computed for five (5) years. Start with year property was
split, and work backward four (4) years.
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