How will Green Acres benefit an agricultural property owner?

It may or may not. It depends on the property owner's plans. If the property owner plans to farm the property for an extended period of time, it may be advantageous to enroll in this tax deferment program. If he/she has plans to sell, develop, or put part or all of the property into a non-agricultural use within a reasonably short period of time, it may not be practical to enroll in the program. The option to sign up for the program should be carefully reviewed by the property owner.

Potential Financial Incentive

The financial incentive, if any, to enroll in Green Acres will presumably be higher for those properties that are in the path of development. As the demand for these properties increased, the prices paid, and the market values reported, also rose at a faster rate than the general market increases evident in the agricultural market place. That trend has changed over the past few years, resulting in less benefit to having the farmland enrolled in the Green Acres program. 

The greater the difference between a qualifying property's market value and agricultural value, the higher the associated property tax benefit.

Show All Answers

1. What is the Green Acres program?
2. Why do some counties administer the Green Acres Program?
3. Who qualifies for the Green Acres Program?
4. How will Green Acres benefit an agricultural property owner?
5. How does the Green Acres Program work?
6. What is the agricultural value of a property?
7. Can special local assessments be deferred under the program?
8. If a property no longer qualifies for Green Acres, how many years can the County Auditor-Treasurer go back to collect additional taxes on the deferment?
9. What if a property loses its eligibility prior to the expiration of the three-year period?
10. If a property has deferred special local assessments and loses its Green Acres eligibility, when does the deferment become due?
11. Are deferred taxes and special assessments considered a lien on the property?
12. What if only part of the property is sold or ceases to be used for agricultural purposes?
13. Does the tax deferment continue if the property is sold and used for agricultural purposes?
14. What if the property no longer qualifies for Green Acres because it loses its agricultural classification?
15. How do I qualify?
16. How do I apply?