Indian River County agricultural land can be classified by value using a formula that depends on the potential income produced as a main factor. In order for Indian River County land to be considered agricultural land it must be used for a “bona fide” agriculture operation. If it is, it can be assessed under a special agricultural assessment. here’s the deal though. You can’t just call your land agricultural land and act like you’re farming the land. It must be used for good faith commercial agricultural purposes to qualify for the special assessment.
Generally, land classified as agricultural land in Indian River County used for a bona fide agricultural purpose will result in a lower assessed value per acre than the market land value. Consequently, the land owner saves money in taxes. The land has to be in use for actual agricultural purposes. Just saying that you intend to use the land for agricultural purposes will not result in the classification of the land as agricultural.
Agricultural Land Classification In Indian River County
Here are a few things you should know, if you’re interested in the agricultural classification for assessment purposes:
- The appraiser has every right to as for information that established that the land is actually used for a bona fide agricultural operation.
- Your application must be renewed each year, and it’s not automatically renewed.
- You can’t transfer the classification to a new owner.
- The application for the agricultural classification is due by March 1st each year.
If you’d like to apply for agricultural classification for land that you own, you can find the application in the Indian River County website here.
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