National Tax Journal · 1971 · 11 citations · 2 references
AgricultureAgricultural EconomicsLand-use PlanningLand Use PolicyProperty TaxationTaxationAgricultural Land EconomicsAgricultural Tax PolicyLand TaxationLand UseLand-use ChangeProperty TaxAgricultural Property Tax IncidenceAssessed Value AnalysisAssessed Value DeterminationAssessment Of Agricultural PropertyFarmland Tax AssessmentProperty Tax ShiftingProperty Taxation Of FarmlandTax Assessment Valuation
California, under legislation enacted in 1965, uses contracts and agreements between landowners and local government as a basis for differential assessment of farmland. Most landowners who voluntarily restrict their land to agricultural use receive substantial reductions in assessed values with accompanying decreases in property taxes. Early experience, however, shows that land placed in the program was below average value and probably in little immediate danger of being converted to nonagricultural use. Calculated tax shifts occurring under the program, while not large when compared with total taxes, are extremely variable and concentrated in small tax districts.
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