| Specialized and Preferential Assessment Programs |
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Two general types of specialized or preferential assessment programs are available for owner of certain types of property. One of these programs authorizes assessment at 30% rather than 40% of fair market value for certain agricultural properties being used for bona fide agricultural purpose. The second type of preferential program is the Conservation Use program which provides that certain agricultural properties, timber land property, environmentally sensitive property or residential transitional property is to be valued and assessed for ad valorem tax purposes at it current use value rather than it fair market value. Each of these specialized or preferential programs requires the property owner to covenant with the Board of Tax Assessors to maintain the property in its qualified use for at least 10 years in order to qualify for the preference. In Montgomery County, application for the program is filed with the Tax Assessor between January 1st and April 1st. The Board of Tax Assessors can explain the ownership and use restrictions regarding property qualifying for either of these programs. Other Land Assessment Programs that are available:Landmark Historical, Residential Transitional, Environmentally Sensitive and Brownfield.
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