A 3% yield tax is also charged for timber removed from grazing and cropland; under the question “What is the Agriculture Program, and how do I apply?” see “Yield Tax.”
• When the land is removed from the Bare Land and Yield option or the timber program, deferred tax may be billed. This tax is based on the difference in total value between the Land Productivity option and the Bare Land and Yield option for the years the land was in the program, not to exceed ten (10) years, and less credit for any yield tax already paid. If the land is removed from the program because it is being developed, the deferred tax calculations are based on the difference between the Bare Land and Yield value and full market value. • A possible advantage of this option is that deferred tax may be paid out of the proceeds of the sale of the land. A possible disadvantage is that non-payment of deferred tax may result in a lien against the property. • Contact the Assessor’s Office for information on calculation of yield and deferred tax.
Related Questions
- A 3% yield tax is also charged for timber removed from grazing and cropland; under the question "What is the Agriculture Program, and how do I apply?" see "Yield Tax."
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