What is the consequence of filing a late application for an agricultural designation?

Filing a late application for an agricultural designation results in a penalty of 10 percent on the tax difference. This means that if an owner misses the deadline for filing their application, they may still be able to obtain the agricultural designation but will face financial repercussions. Specifically, the tax savings they would have received from the designation will be reduced by a 10 percent penalty, calculated on the difference between what they would have owed with the designation and what they owe without it.

This penalty serves to encourage timely applications and to ensure that property owners adhere to the regulations set by the state regarding agricultural land use. It also protects the tax base from the effects of late filings, ensuring that tax revenues are collected appropriately. This penalty structure helps maintain the integrity of the agricultural designation process while still allowing late applicants to benefit from the designation, albeit at a reduced level.