For an EFU zoned property, how can I figure out the difference in taxes if it were removed from farm use special assessment?
You can get a good estimate by following these steps: Go to Property Data Online (aka Front Counter). Then click on the account number of the selected property. This takes you to a screen with the top heading “Details for account” which is the detail page. Click on Value Summary Detail. Notice the segments of the account broken down under the Value Source column. Only the segments identified as “FARM USE ZONED” and “FARM SITE” have a lower assessed value as a result of the farm special assessment. Look at the column with the heading “RMV”. Add together the RMV of the FARM USE ZONED and FARM SITE segments. Calculate 50% of that sum (multiply it by .50). Now add the “Max AV” of all the segments. From that, subtract that sum from the first calculated number. Divide the answer by 1,000. (Example: Total RMV of $100,000 X 50% =$50,000. Sum of Max AV= $5,000. The difference = $50,000. This divided by 1000 = 50). Now, locate the tax rate of the property on the detail page (in the Tax Info box
Related Questions
- I just received a farm income questionnaire, however my property is zoned exclusive farm use. Do I have to farm the property to retain the farm use special assessment?
- For an EFU zoned property, how can I figure out the difference in taxes if it were removed from farm use special assessment?
- A property is zoned EFU and is not suitable for farm use. How can I change the zoning?
