Agricultural appraisals are performed on a certain schedule in accordance with state requirements. The appraisal process consists of reviewing applications submitted for valuation purposes. The valuation determines how much is paid in taxes for the property. Appraisers monitor land in a specific region to monitor the changes in the values of the property. Here are some of the most commonly asked questions about the agricultural appraisal process.
How do rollbacks work?
Rollbacks are required in order to recover the difference in taxes paid on a property within the valuation was lower. The rollback is only required when the value of the land’s usage patterns change.
What happens if the property changes hands?
The schedule for appraisal is tied to a cycle. It is not tied to a specific person, so if the land is sold, the schedule is based on the last year of appraisal.
Are multiple lands considered a single tract?
A person who owns multiples tracts of land adjacent to each other, will have one single appraisal for the entirety of land.
How does a person verify their history for a property?
A person can supply financial documentation, financial reports, and statements from other property owners. A person can also supply income tax records to illustrate their history for a given property.
How do homestead exemptions work?
If the property is considered to be a residence, the owner may qualify for an exemption if the ownership can be linked to the current tax year.
What happens if one doesn’t agree with the appraisal?
A follow-up meeting can be requested. Substantial documentation and additional paperwork can be submitted to challenge the appraisal or the use classifications.