HB5773 amends the Property Tax Code to change guidelines and valuations for farmland, including assessments for cropland, permanent pasture, and.
HB5773 amends the Property Tax Code to revise guidelines and valuations for farmland. It specifies that cropland, permanent pasture, and other farmland should be assessed according to guidelines issued by the Department of Revenue. The bill also details how vegetative filter strips should be assessed and valued. It mandates that the Department of Natural Resources inform the Department of Revenue of each parcel of land covered by an approved forestry management plan.
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