Welcome! Please use the navigational links to explore our website.
PartsASAP LogoCompany Logo Auction Link (800) 853-2651

Shop Now

   Allis Chalmers Case Farmall IH Ford 8N,9N,2N Ford
   Ferguson John Deere Massey Ferguson Minn. Moline Oliver

Tractor Talk Discussion Forum

OT- Green Acres Property tax program

Welcome Guest, Log in or Register
Author 
Dave from MN

03-05-2007 14:56:21




Report to Moderator

Is any one here enrolled in " green acres" tax program. Not sure if it is just a MN thing or Fed, but I wondering how people have for pro's & con's with it. If I read right, the defered taxs due, when land is sold or taken out, is only for a MAXIMUM of 3 years worth. Is this correct. Cause then I think I may sign up, but if all years defered higher value taxes will come due, that is quite a bit of money, not sure I would want to deal with that. Also the deferment is also a Lein on your property, which I do not like all that much any how. Some one please straiten me out on this! I aint learned nothing today yet so would some one please take care of todays learning.

[Log in to Reply]   [No Email]
Unimog

03-06-2007 10:49:44




Report to Moderator
 Re: OT- Green Acres Property tax program in reply to Dave from MN, 03-05-2007 14:56:21  
In Rhode Island it"s the Farm, Forest and Open Space Act. Problem is state lets each city and
town set their own rate. Big mistake! Values can
go from $200 to $20,000 per acre depending on the
tax assessor in each town. State Dept. of Enviro-ment sets "recommended rates" but I don"t know of
a single town that follows them. Poor system. I
am in the program for over 25 years but am still
paying over twice as much as the "recommended rates" We are saving some but not as much as it
should be.

[Log in to Reply]  [No Email]
PhilcaseinWPa

03-06-2007 06:15:11




Report to Moderator
 Re: OT- Green Acres Property tax program in reply to Dave from MN, 03-05-2007 14:56:21  
In Pennsylvania it is known commonly as Clean and Green, officially I think something like Preferential Assessment. Open land is taxed on its current use value. If it is sold for development then the difference in taxes goes back 7 years. Buildings and improvements are taxed at normal rate. There are 3 classes of property: Agriculture, agriculture reserve, and forestry reserve. Any open parcel over 10 acres is elgible. Parcels less than 10 acres must be able to demonstrate $1500 of income / year. I'm not sure if it actually has to show $1500 income or potential for $1500 income. I also think that if you have several parcels together and some are under 10 acres but the total is over 10 acres then you don't have to show the $1500 on the smaller parcels. I have 190 acres in the program and before I owned it all I had to show the county treasure's office my schedule f tax return. I only owned 9.3 acres of it then but farmed it all. You are allowed to divide off either 10% or 2 acres for residential use to a family member. I'm not sure if that person has to be actve in the farm or not. PA also has what is known as ag secure zones which gives you protection from some nusience laws and regulations and you can sell your development rights to the state. I'm in Ag secure also but I'm not sure I want to sell development rights. I don't trust the state to really never sell those rights or change laws or a lot of other cans of worms that could be opened. If keeping farmers in business is the real goal then I think the government should just get out of the way and let farming be profitable. I'll stop now before I begin to rant.
Phil

[Log in to Reply]  [No Email]
cj3b_jeep

03-06-2007 06:14:42




Report to Moderator
 Re: OT- Green Acres Property tax program in reply to Dave from MN, 03-05-2007 14:56:21  
Ohio has it too, it's the ag. use program. If you have over 10 acres, you don't have to show any specific income, just have some kind of farming operation. If you have under 10, you have to show $2,500 income each year to qualify, and once you take it out of ag use or do not qualify, you have to back pay three year's worth of market value taxes. I guess if I were raising diamonds and other gemstones on my 6+ acres it would be worth it, but three years of taxes is a chunk of change.

[Log in to Reply]  [No Email]
Hard Knocks

03-06-2007 04:04:48




Report to Moderator
 Re: OT- Green Acres Property tax program in reply to Dave from MN, 03-05-2007 14:56:21  
In Virginia its called Land Use,its for Ag and Forestry land. Land is taxed according to use not fair market value.If taken out of Land Use
5 years back taxes and penaties are owed on Fair Market value



[Log in to Reply]  [No Email]
BC in TN

03-05-2007 15:48:03




Report to Moderator
 Re: OT- Green Acres Property tax program in reply to Dave from MN, 03-05-2007 14:56:21  
In TN the program is called "Greenbelt" - must have at least 15 acres in the program. The land must be used principally for agriculture and must produce at least $1500.00 per year.



[Log in to Reply]  [No Email]
paul

03-05-2007 15:27:18




Report to Moderator
 Re: OT- Green Acres Property tax program in reply to Dave from MN, 03-05-2007 14:56:21  
It's a Minnesota thing, tho other states have similar programs. It keeps your prop tax assessment based on ag use, not developer use if suburbia encroachs.

I'm trying to keep my sis' place eligable, but it's tough because they have only a few acres of farmland.

I believe you are right on the 3 years part.

I thought you needed to make $2000+ a year in gross ag income, but this web site says otherwise:

Link

Here is an actual application form:

Link

--->Paul

[Log in to Reply]  [No Email]
riverbend

03-05-2007 16:52:47




Report to Moderator
 Re: OT- Green Acres Property tax program in reply to paul, 03-05-2007 15:27:18  
I should read all that. This is news to me. Our land had been ag land and as far as I know, we've never done anything to apply, or knew that we would be on the hook for three years of back taxes once some rich horse owner makes us millionaires (that's the plan anyway).

Greg



[Log in to Reply]  [No Email]
[Options]  [Printer Friendly]  [Posting Help]  [Return to Forum]   [Log in to Reply]

Hop to:


TRACTOR PARTS TRACTOR MANUALS
We sell tractor parts!  We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]

Home  |  Forums


Copyright © 1997-2023 Yesterday's Tractor Co.

All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy

TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.

Yesterday's Tractors - Antique Tractor Headquarters

Website Accessibility Policy