Legal Question in Real Estate Law in Florida
timber farm lot split
i have a 101 acre timber farm with ag exemption it is 20acre home sites the city wants to lot splt 20 acres as ag 20 they say it will protect me later to sell or if bank wants to take land i am afraid my taxes will increase. property apraiser said i will have to re-apply for ag exemption on 20 ac what shoud i do thanks eddy
1 Answer from Attorneys
Re: timber farm lot split
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I am not sure I totally understood your question. However, the city or county has the right to reappraise your property at what they feel to be the best use. Agricultural exemptions are not guaranteed. If all the property around you has been developed and you are simply holding your land or waiting for a better price, they are within their rights to tax it at full value if agricultural use no longer fits in with the community. Accordingly, whether or not you agree, it can be re-classified to single family useage.
Scott R. Jay, Esq.