A3414

Revises farmland assessment law to prevent roll-back taxes unless land is converted to non-agricultural use.

Revises the Farmland Assessment Act of 1964 to ensure that roll-back taxes are not imposed on farmland simply because agricultural or horticultural activity ceases. Roll-back taxes apply only if the land is actively converted to non-agricultural or non-horticultural use. The bill clarifies that land acquired by the state, local government units, qualifying tax-exempt nonprofit organizations, or the Palisades Interstate Park Commission for recreation and conservation purposes is exempt from roll-back taxes.