(Bannock County Press Release, December 6, 2023)
Our Agriculture appraisers are working on the Farm Questionnaire, which is new for the 2024 assessment year. In order to be fair and equitable in our assessments, we would like to use local Ag rates instead of USDA rates, which we have historically used. We are sending this questionnaire to all agriculture parcel owners with 20 or more acres of land. The feedback we receive will help us compile current Ag Rates in Bannock County.
Land actively devoted to agriculture is defined as:
- For parcels of land of five or more acres under one ownership producing agricultural field crops, nursery stock, and or grazing as part of a for-profit enterprise may qualify for the speculative value exemption.
- For parcels five contiguous acres or less, the owner shall provide evidence that the land has been devoted to ag use for the last 3 growing seasons AND produced for sale or home consumption15% or more of the owner’s annual gross income or it produced gross revenue in the immediate preceding year of one thousand dollars ($1,000) or more may qualify for the speculative value exemption.
If your property is being used for agricultural purposes and you are not currently assessed as Agricultural land, please get in touch with us.
