COM 0118.038 2002-2004 - Laserfiche WebLink

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11. Section 19-53(a)(2): Added the exception to value the use of agricultural land without regard to any value the land may have for other purposes or uses. Required the director to update the ag use values at least every five years and to consults with agriculturalists and/or experts in the field. Required ag use rate values to be established by rules. 12. Section 19-53(e)(2)(A): Repealed provisions of Ordinance No. 04-67, which allowed the homesite of an agricultural parcel to qualify for Homeowner Class. The policy change would allow a farm dwelling site to be valued at the highest agricultural use value. Under the current productivity values, the highest value is $2,000. 13. Section 19-57(a): Amended language to be consistent with rest of bill. "Lands classified and used for agriculture and which are not dedicated pursuant to Article 8, section 19- maybe assessed for real property tax purposes [ l~~~t~-~kete] as established in subsection (a)(2) . 14. Section 19-57(a)(2): Amended language for consistency to ag use value definition. "shall be assessed at two times the dedicated [greduetivity] agricultural use value as established by the director of finance under this chapter. 15. Section 19-57(a)(3): Added the method for detemuning the value of a farm dwelling site would be at the highest commercial ag use value. This would supercede Finance Director's Rules 7 and 8 regazding homesite value. Provided that the maximum farm dwelling site area to be assessed at the highest commercial ag use value does not exceed one-fourth acre. 16. Section 19-57(b): Clarified that all portions of land not committed or used for a specific ag use will be assessed on the proportional makket value of the total property. 17. Section 19-57(d)(3): Clarified "The amount of deferred taxes shall be based on the difference [itr} between assessed market value [betiveex-tlu~] at highest and best use and the assessed agricultural use value of the land at the tax rate applicable for the respective yeas, with a ten percent penalty." 18. Section 19-60(c)(4): Clarified that "The portion of land that is not dedicated for commercial agriculture use shall be assessed [at-t~ket value] based on the proportional makket value of the total property. 19. Section 19-60(c)(5): Added the method for determining the value of a farm dwelling site would be at the highest highest commercial ag value. Under the current productivity values, the highest value would be $2,000. Provided that the maximum farm dwelling site area to be assessed at the highest commercial ag use value does not exceed one-fourth acre. 20. Section 19-60(c)(5): Added the method for detemilning the value of a farm dwelling site would be at the highest commercial agricutlural use value. This would supercede Finance Director's Rules 7 and 8 regarding homesite value. 21. Section 19-60(g)(3)(A): Clarified calculation of deferred or rollbax taxes for commercial ag use similaz to #17. 22. Section 19-60(h)(1): Clarified "A recognized natural disaster bevond the farmer's control". 2