Definition
Agricultural exemptions reduce property taxes significantly for qualified farmland. Requires active farming operations and maintained use.
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Agricultural exemptions reduce property taxes significantly for qualified farmland. Requires active farming operations and may have minimum acreage requirements. Exemption ends if land is converted to non-agricultural use.
Pro Tip
Agricultural exemptions offer substantial tax savings but require maintaining agricultural use.
Example
A 50-acre farm qualifying for agricultural exemption reducing annual property taxes by 60%.