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Forest Incentive Programs - Property Taxes for Utah

Type of Tax

Current use value tax based on the 5-year moving average of the Federal Land Bank Rate

Law

Utah Farmland Assessment Act

Objective

These standards provide reference to accepted procedures and guidelines for assessment and taxation of agricultural land under the provisions of the Farmland Assessment Act of 1969, as amended. These standards are intended as a management tool to promote equitable administration of the Utah property assessment for land actively devoted to agricultural use.

Requirements

Minimum of 5 acres

Evidence of use for previous 2 years

5 contiguous acres

Land less than 5 acres may qualify if it is being used for agriculture in conjunction with other qualifying land.

Land must be devoted to agricultural use for two successive years preceding the tax year the landowner wishes to enroll.

Land must be managed in such a way that the landowner expects to make a profit.

Production requirement can be waived if the land does not satisfy the production requirement, but is involved in an accepted agricultural practice.

Withdrawing from the program results in a rollback tax of up to five years. Tax rate and market value will be used to determine the rollback tax amount for each year preceding the land use change, but will not exceed five years. (www.propertytax.utah.gov/faa/faaprint.html)

Program Administration

County tax assessor is responsible for the classification of agricultural land using the guidelines provided by the commission

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