Bill > SB35

This bill amends Delaware's tax code to provide real estate tax relief for qualified farm structures, similar to existing provisions for agricultural land. The legislation expands the definition of agricultural, horticultural, and forest use to include not just land but also specific farm structures like poultry houses, storage facilities, and buildings used to house farm implements, livestock, and agricultural products. The bill introduces a new concept of "qualified farm structures" that can be assessed at a lower tax rate when actively used for agricultural purposes. If these structures are later converted to non-agricultural use, owners will be required to pay "roll-back taxes" - the difference between the reduced agricultural tax rate and what would have been owed under standard property assessment. Farmers must apply for this tax relief annually, with automatic renewal if the property's use remains unchanged. The State Farmland Evaluation Advisory Committee will be responsible for determining the valuation ranges for these qualified farm structures, considering factors like productive capabilities and historical land values. The overall goal is to support Delaware's agricultural industry by reducing the financial burden of property taxes on farmers, particularly small and medium-sized farm owners.

Agriculture and Natural Resources, Budget and Finance

https://legis.delaware.gov/BillDetail?LegislationId=141751