Requirements for Conservation Use Assessment for Agricultural or Timber Land: (Sec. 48-5-7.4, Code).
Maximum of 2,000 acres: A single land owner may not have an interest in more than 2,000 acres of tangible real property that is placed in the conservation use assessment program. This would apply even when the interest the owner has in the land is less than outright ownership of the property. For example, if four persons jointly own 2,000 acres, none of these four owners are eligible to put additional land in a second covenant.
Property Must Remain Devoted to Qualifying Use: The property must be devoted to farming or commercial production of agricultural products or timber throughout the life of the covenant (10 years). Up to 50% of the land may lie dormant, however, the unused portion may not be used for any other business use. If the use of the property is changed from agricultural to timber production or visa versa, the owner must notify the county board of tax assessors of the change. For more information on the assessment of timber click here.
Barns and Silos Also Qualify: The value of tangible property permanently affixed to the real property which is used in connection with the owner's production of agricultural products or timber for storage and processing would be included in the conservation use assessment. But the value of any residence located on the property would be excluded.
Owner Must Be Natural or Naturalized Citizens or Family Owner Farm Entity: Property must be owned by one or more natural or naturalized citizens or by an entity comprised of one or more natural or naturalized citizens, or a bona fide nonprofit conservation organization designated under Section 501(c)(3) of the Internal Revenue Code.
Eligible Uses of the Property: If qualified the property shall be used for, but not be limited to:
Raising, harvesting, or storing crops:
Feeding, breeding, or managing livestock or poultry;
Producing plants, trees, fowl, or animals; or
Production of aquaculture, horticulture, floriculture,
forestry, dairy, livestock, poultry, and apiarian products.