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Assembly committee reviews ordinance to restore farm-structure tax exemption tied to Prop 2
Summary
An ordinance to add a farm-structure exemption to borough tax code was presented; staff and the assessor's office said it would restore the voter-approved Prop 2 exemption for structures used for food production, would require $2,500 in annual sales and IRS Schedule F, and staff supplied 2024 application counts and exempted values.
Assemblymember Kras presented an ordinance to add a new subsection T to FNSBC 8.04.060 to restore a farm-structure tax exemption consistent with Proposition 2 (approved by borough voters Oct. 3, 2023). Kras said state statute changes prompted the borough to update local code and that this ordinance would return an outright exemption for qualifying farm structures rather than a deferment.
Kras said the ordinance targets structures used exclusively for farming activity (growing, storage, processing of grains, fruits,…
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