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The General Assembly has passed legislation permitting localities that have adopted a comprehensive land use plan to provide, by ordinance and according to certain criteria for the special assessment and taxation of agricultural, horticultural, forest and open space lands at their use value rather than fair market value. Property owners must submit an application for taxation on the basis of a use assessment to the Commissioner of the Revenue. Topics covered in this section: Applications are normally accepted between September1 - November1. There is a $10.00 filing fee for each application. Note: Giles County is in the middle of a new full reassessment. Letters will be mailed out to all property owners this Fall indicating the changes in value of each taxpayer's Real Estate. Included in these letters will be notices for taxpayers to come in the office and sign up for the Land Use program. The deadline to reapply for the Land Use program is January 15, 2005. Agricultural - Land must be devoted to the bona fide production for sale of plants and animals useful to man under uniform standards prescribed by the Commissioner of Agriculture and Consumer Services. Examples include hay, grain, pasture, and livestock. Requires 5 acre minimum in agricultural use, excluding 1 acre for house site. Horticultural - Land must be devoted to the bona fide production for sale of fruits of all kinds, including grapes, nuts, and berries; vegetables; nursery and floral products under uniform standards prescribed by the Commissioner of Agriculture and Consumer Services. Requires 5 acre minimum, excluding 1 acre for house site. Forest - Land must be devoted to tree growth in such quantity and so spaced and maintained as to constitute a forest area under standards prescribed by the State Forester. It shall mean land including the standing timber and trees thereon. Requires 20 acre minimum in forest use, excluding 1 acre for house site. Roll Back taxes are assessed when the property no longer conforms to the Standards for Classification of the Land Use Program. In the event of a change in use, acreage, or zoning, the property owner must report such changes to the Commissioner of the Revenue within 60 days of the said change. The person who changes the use of the property is responsible for paying the roll back taxes. Roll Back taxes are assessed for the current year plus the 5 preceding years in which the real estate was taxed under the land use ordinance. The taxes are based on the difference between the market value and the use value. Simple interest is applied to these taxes.
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