Agenda - Council - 11/13/1979 - Laserfiche WebLink

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SECTION 2. (Definitions) Gives definitions that are critical to correct interpretation of the act. Especially significant is the definition of "long-term agricultural land~" such lands are only those designated in the comprehensive plan and zoned quarter/quarter. ' SECTION 3. (Eligibility) . States that only long-term agricultural land, comprising 40 or more acres, is eligible. SECTION 4. (Application and Covenant Agreement) Describes the voluntary process for application and designation. Key aspects are that (i) the local authority must sign a statement confirming that the area is long-term agricultural land; and (ii) a restrictiv~ covenant by which the owner commits the land to agricultural use for the duration of the preserve is required. SECTION 5. (Notification) Stipulates the notification procedure. The local authority notifies the county recorder, who files and records the restrictive covenant; the auditor and assessor, who will thereafter tax the land according to the act; the secre- tary of state, who will notify the affected state agencies~ and the regional agency, which will maintain maps of eligible and covenan~d Zand$. SECTION 6. (Effectuation) States that the land actually becomes an agricultural preserve 30 days from the date of application. SECTION 7. (Duration) Provides that the preserve continues indefinitely until either the owner or the authority initiates an eight-year expiration period. The owner can initiate expiration at any time. But the authority must change the planning and zoning before it can initiate expiration. There is no penalty upon expiration. SECTION 8. (Early Termination) Provides for early termination if a public emergency requires it. Such termination is determined and authorized only by the governor. SECTION 9. (Ad valorem Property Taxes) Limits property taxes in two ways: first, land in agricultural use is valued solely according to its agricu]tura! capability value~ second, a maxi- mum rake of tax is set, based on 105 percent of the statewide average for township gross mill rates. Any revenue shortfall resulting from limiting the mill rate is reimbursed by the state.