What is happening in the state budget never fails to astound me! I've just learned that the Senate caucus will be considering changing the definition of agricultural land to exclude any land that is platted and zoned for residential, commercial or industrial use. As you know, currently agricultural land is valued based on its use, while all other property is valued based on its highest and best use.
This provision would cause land that is devoted to an agricultural use, but is also platted and zoned for a residential, commercial or industrial use to be valued for property tax purposes at its highest and best use. I oppose this, and I urge you to oppose it as well for three reasons:
- This will greatly increase housing costs and hurt affordability.
- This is the worst possible time to be increasing carrying costs on property that will be developed in the future, given the condition of the homebuilding industry.
- This will also hurt farmers. Farmers frequently lease lands that will be used for future development, and these increased costs would be passed on to them.
Please support a good, common sense budget!
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