Senate Bill 0068
DIGEST OF SB0068 (Updated February 7, 2001 12:59 PM - DI 52)
Assessment of agricultural property. Allows a parcel of land to be: (1) classified as a farmland preservation parcel upon application to the township assessor; and (2) assessed thereafter at $1 per acre if the parcel contains at least ten acres, does not contain a dwelling or another usable building, and is assessed as agricultural land. Requires payment to the county of the property tax benefit received over a period of up to ten years if the land is withdrawn from the farmland preservation parcel classification.
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