Revenue and taxation; bona fide conservation use property; permit combination of multiple covenants into a single, new, ten-year covenant

Summary

The measure revises the definition of bona fide conservation‑use property to include land used for carbon sequestration and allows a single owner to combine several existing conservation covenants into one new ten‑year covenant, provided the parcels would qualify for renewal individually. It also sets filing and tax‑delinquency requirements for the combination and clarifies how properties can move between different preferential assessment programs. The changes take effect for taxable years starting on or after Jan. 1, 2027.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share