What if there is an improvement (house) on the agricultural land?
A. One-half acre will be designated as “home site”, and will be valued at market value. A home site, as the term is used in Chapter 7-36-20, is the site used primarily as a residence; is more than a boundary of the foundation of an improvement used as a residence, and included land on which swimming pools, tennis courts and similar non-agricultural facilities are located. It does not include land on which agricultural facilities such as barns, pig pens, corrals, and bunk houses, farm equipment, sheds and other outdoor buildings are located. The non-agricultural or improvement portions will be added to the land value. All remaining land will receive the agricultural rate, providing that the primary use of the remaining land qualifies as agricultural under the statute.
A. One-half acre will be designated as home site and will be valued at market value. A homesite, as the term is used in Property Tax Division Regulation 36-20: 1, means the site is used primarily as a residence and is more than the boundary of the foundation of an improvement used as a residence. All remaining land will receive the agricultural valuation rate providing that the primary use of the remaining land qualifies as agricultural under the statute.
