Allows property owned by conservation entities to be taxed at present-use value.

This bill allows property owned by conservation entities to be taxed at present-use value. It defines "conservation holder" as a nonprofit or private corporation that meets specific criteria and is organized to preserve agricultural, horticultural, or forestland. The bill ensures that such property remains eligible for present-use value classification even if the owner changes, provided certain conditions are met. The changes take effect for taxes imposed for taxable years beginning on or after July 1, 2026.

Allows property owned by conservation entities to be taxed at present-use value.

This bill allows property owned by conservation entities to be taxed at present-use value. It defines "conservation holder" as a nonprofit or private corporation that meets specific criteria and is organized to preserve agricultural, horticultural, or forestland. The bill ensures that such property remains eligible for present-use value classification even if the owner changes, provided certain conditions are met. The changes take effect for taxes imposed for taxable years beginning on or after July 1, 2026.