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Senate committee approves amended farmland valuation bill requiring modifiers and periodic review; sends bill forward
Summary
Senate Bill 2367 was amended to require that agricultural valuation modifiers be applied in a specified order and to institute an initial-application requirement with periodic reassessments. The Finance and Tax Committee approved the amendment and gave the bill a due-pass recommendation as amended.
The Senate Finance and Tax Committee approved amendments to Senate Bill 2367 that change the order and administration of agricultural property valuation modifiers and require an initial application and periodic review for modifier adjustments, then voted to give the bill a due-pass recommendation as amended.
Senator Wallen explained the principal changes to the committee and said the amendment reorders subsection language so that whether property is krapland (a category used in statute) is the first determining factor,…
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