Does the size of the converted land make any difference in the Conversion Charge calculation?
Yes. Only five (5) % of the difference calculated in question # 2 is multiplied by the number of converted acres if more than 30 acres are converted; by seven and one half (71/2) % of that difference if 10 to 30 acres are converted; and by ten (10) % of that difference if less than 10 acres are converted. When calculating the number of converted acres, all acres owned by the same entity, in the same municipality, in that year should be added together. At http://www.revenue.wi.gov/slf/useval/uvindx.html you will find the charges per acre, which are based on the number of acres converted. There is no Conversion Charge if the Conversion Charge per acre would be less than $25.00.
Related Questions
- If land converts to undeveloped, agricultural forest, productive forest lands or other for one year, and then converts to esidential, is it then liable for a Conversion Charge?
- Is land previously classified as agricultural, which is left fallow, subject to a Conversion Charge?
- When will the values used in the conversion charge calculation be available?
