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Asset Management Newsletter: Time For Filing Local Property Exemptions Approaches

Asset Management Newsletter: Time For Filing Local Property Exemptions Approaches

Author: Neale Montgomery

Once a year the property appraiser’s office classifies land as agricultural or non-agricultural. Helping landowner’s retain their land is important to the community because it helps to stem the downward pressure on property values. Agricultural or conservation exemptions can help keep the cost of maintaining land affordable.

If your property is being used for a bona fide agricultural use it is time to file for your agricultural exemption. If your exemption was denied last year for any portion of your property that is used for agricultural purposes you need to file again this year. If you don’t get a renewal from the property appraiser’s office you need to file. The deadline for filing is March 1. It is important to get your documentation in order now such as leases, photographic evidence, and receipts from purchases of feed, seed, etc. and receipts from the sale of crops, cattle, etc.

If the local government has required you to set aside land for preserve and a conservation easement is required and filed or the local government designated your land as conservation in the comprehensive plan the land is to be valued based on the environmental designation in accordance with Section 193.481, F.S.

Protecting water resources has been a hot button issue for local governments during the past five years. If the local government has determined that your land is a prime recharge area or a high water recharge area you should consider working with your local government to have a high water recharge protection tax assessment program.

If you need help in determining whether you are eligible or assistance in filing we are here to provide assistance.