Introduced
To require property tax assessments on qualified agricultural property to be based only on the prior year sale prices of comparable agricultural lands which had affidavits certifying that the property would remain in agricultural use. In other words, agricultural assessments would be based on prices of comparable land sold for agricultural purposes and not the prices of those sold for development, which often are higher. When agricultural property is sold with the affidavit, it is not subject to the Proposal A property tax “pop up,” in which the property tax assessment jumps from a capped “taxable value” to the current (and higher) state equalized value (market value).
Referred to the Committee on Tax Policy
Reported without amendment
With the recommendation that the substitute (H-2) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one which allows some exceptions to the bill, to account for the fact that some sales in which the buyer intends to continue farming the land are not accompanied by the affidavit.
The substitute passed by voice vote
Passed in the House 83 to 21 (details)
To require property tax assessments on qualified agricultural property to be based only on the prior year sale prices of comparable agricultural lands which had affidavits certifying that the property would remain in agricultural use, or which the assessor knows will remain in agricultural use. In other words, agricultural assessments would be based on prices of comparable land sold for agricultural purposes and not the prices of those sold for development, which often are higher. When agricultural property is sold with the affidavit, it is not subject to the Proposal A property tax “pop up,” in which the property tax assessment jumps from a capped “taxable value” to the current (and higher) state equalized value (market value).
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one containing technical changes that do not affect its substance as previously described.
The substitute passed by voice vote
Amendment offered
by
To charge a three-percent to seven-percent conversion tax on farmland that is removed the from agricultural use, and use part of the tax revenue to purchase development rights on other farmland.
The amendment failed 17 to 20 (details)
Amendment offered
by
To clarify which property transfers would not be included in the assessed value equalization process.
The amendment passed by voice vote
Passed in the Senate 33 to 4 (details)
To require property tax assessments on qualified agricultural property to be based only on the prior year sale prices of comparable agricultural lands which had affidavits certifying that the property would remain in agricultural use, or which the assessor knows will remain in agricultural use. In other words, agricultural assessments would be based on prices of comparable land sold for agricultural purposes and not the prices of those sold for development, which often are higher. When agricultural property is sold with the affidavit, it is not subject to the Proposal A property tax “pop up,” in which the property tax assessment jumps from a capped “taxable value” to the current (and higher) state equalized value (market value).
Passed in the House 104 to 2 (details)
To concur with the Senate-passed version of the bill.
