Res 1986-106 - Laserfiche WebLink

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yield to development pressures, usually due to high property tax assessments, many areas grant them preferential tax treatment. Most states assess taxes based on "highest and best use" value instead of actual-use value or income-producing value. When this happens, farmland surrounded or encroached by urban development is assessed at the higher development value instead of the agricultural value. 1bis forces many farmers/ranchers to sell property in order to pay taxes. Many states have adopted ways to avoid this problem thrwgh different tax incentive methods. California's Land Conservation Act of 1965 authorizes counties to enter into contractual arrangements with farmers, whereby if the land continues to be used for agricultural purposes for ten years, the land is then assessed at its income producing value. Other states tax agricultural land at its "pJ:cducti.ve character" value. lJbe three most oommon methcxis of doing so are: restricted use, where the land must be subject to some type of land use restriction or control prior to assessing its value; deferred taza:tion, where the taxes on the difference between the property's actual use and its market value are deferred until the property is sold and/or develcp!ch and the preferential assessment, where property is taxed on its actual use, not highest and best use. Tax incentives in the form of tax breaks can also be used to help persuade induStry to develop in a certain area, thus using tax incentives as a CJZ'CW'th guidance tool. In addition to tax incentives, outright discouragement of financial resources for development or mortgages can be used. Under current policy, the Department of Housing and Urban Development discoora.ges financial assistance for any projects within the 65 LOn contour. 'Ihi.s applies to all BUD programs providing assistance for housing, or to the provision of facilities and services directed at making land available for any ooise sensitive development. = HDtice ~~ ~~ ~1~, IbDe 81yeJ:S and ~. the sane jurisdictions affected by airport noise have passed ordinances which require the seller to advise the buyer of conditions which may affect the property, such as flooding potential, utility matters and noise effects. 'n1i.s is accomplished by the use of a form advising the buyer of these situations which is incorporated into the purchase negotiations.. '!be form should advise the buyer of the expected sound levels at that particular location and of any local sound attenuation requirements . 6.7