create a new class of nonagricultural property for purposes of taxation, and to provide a penalty therefor.

Summary

HB 1218 adds a new classification system for non‑agricultural property, separating commercial‑operator from commercial‑investor holdings and requiring owners to apply for the operator status. It also imposes civil penalties on owners who knowingly or negligently misrepresent their property on the application. The changes would affect owners of commercial property and could alter school district tax levies on non‑agricultural land.

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