Owners of farmland, pasture land, or timberland that are producing agricultural products, livestock, or wood products for sale to the general public may apply for current use exemption. This exemption allows for property to be assessed at less than market value when used only for the purposes specified.
Any owner of eligible property must make a formal application to the Revenue Commissioner's Office if they wish to claim current use.
How to Apply for Current Use
Current use applications may be obtained from the Revenue Commissioner's Office at any time of the year, but under the law they must be filed with the Revenue Commissioner's Office no later than December 31, for that tax year.
After current use has been granted, the owner who made application for current use does not have to reapply for current use in subsequent years. However, if the property ownership is transferred or the name is changed by deed or will, the new owner will have to file an application for current use, or their taxes will be based on fair market value rather than current use value.