Introduced
by
To allow farmland to be subject to an open space easement (which gives lower property taxes in return for foregoing future development), and still be improved with structures used for farming, including a house for the farmer. This would be done by changing the definition of "open space land" in an existing development rights easement law to include farmland, defined to include structures needed for farming. This law makes the value of the development rights exempt from property tax.
Referred to the Committee on Land Use and Environment
Substitute offered
To replace the previous version of the bill with one which requires the state to reimburse local school districts, intermediate school districts, community college districts, and the school aid fund for any lost revenues incurred due to the new property tax exemptions.
The substitute passed by voice vote
Passed in the House 105 to 0 (details)
To allow farmland to be subject to an open space easement (which gives lower property taxes in return for foregoing future development), and still be improved with structures used for farming, including a house for the farmer. This would be done by changing the definition of "open space land" in an existing development rights easement law to include farmland, defined to include structures needed for farming. This law makes the value of the development rights exempt from property tax. The bill would require the state to reimburse local school districts, intermediate school districts, community college districts, and the school aid fund for any lost revenues incurred due to its expansion of property tax exemptions.
