SB200

Alaska SB200 modifies municipal assessments for farm and agricultural land by defining farm use and filing requirements.

Alaska SB200 amends the assessment of farm and agricultural land by defining "farm use" as the production of crops, fruits, flowers, livestock, or other agricultural products for human or animal consumption. It excludes marijuana production from this definition. The bill requires owners or lessees of such land to file an application with the local assessor by May 15 each year, including details from their Internal Revenue Service Schedule F (Form 1040). If the land is leased, the applicant must also provide a signed lease copy. Failure to file forfeits the exemption.