Reply To: Advalorem rate

#25321
Andrew Butcher
Keymaster

    Hi Dave

    There were changes made in 2005 (1/7/2005 I think) to repeal Section 530 which said:
    530 Ad valorem rate for the category “farmland”
    If the ad valorem amount is different for different categories or different sub-categories within a category, the ad valorem amount for the category “farmland” (or each sub-category within that category) must be lower than the ad valorem amount in each other category (or each sub-category within those other categories).

    This was not replaced with any other requirement for the Farmland rate to be the lowest.

    In 2021 the repealed Section 530 was replaced with a new section for special provisions for residential sub-categories.

    Hope this is helpful.

    Regards,
    Andrew