Sat July 25, 2009, 9:48 am

Reduce Property Taxes Through Present Use Value Program

Present Use Value (PUV) is an often overlooked program available to all landowners who own at least 20 acres of farm land or timberland.

The land must have been owned for at least four years and be actively managed as timberland or farm land. Landowners who qualify under this program can expect their property taxes to be significantly reduced. The tax value for the property will be lowered from market value to a value more representative for agricultural land. The reduction can save thousands of dollars a year in property taxes.

Qualifying for the program is fairly simple. It requires the landowner to file an application at the county tax office along with a written forest management plan for timberland or a history of the farm income for farm land. The application should be filed during the listing period in January. The application is available at the tax office or can often be downloaded from the county website. The first year savings is usually greater than the cost of writing the forest management plan. We will be happy to assist you in preparing the forest management plan and the PUV application. We can provide the completed package ready for your signature and filing with the tax office.

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