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What is Public Act 490 and Use Value Assessment?

Public Act 490 is Connecticut's law (Connecticut General Statutes Sections 12-107a through 107-f) that allows your farm, forest, or maritime heritage property to be assessed at its use value rather than its fair market or highest and best use value (as determined by the property's most recent "fair market value" revaluation) for purposes of local property taxation. Without the lower use value assessment, most landowners would have to sell the land because they would not be able to afford the property taxes on farm, forest, or maritime heritage land.

What happens if I sell my land or no longer use it for farm, forest, or maritime heritage land?
If land is taken out of the farm, forest or maritime heritage classification, you may be subject to a conveyance tax penalty, especially if it is within a ten year period of the initial date of classification. It is best to seek further guidance if you believe you may face this issue.

How do I obtain the application form that tax assessors use to determine if my land can be classified as farm, forest or maritime heritage under Public Act 490?
You can go to your tax assessor's office and ask for an application or download the applications below.  You can also visit the Connecticut Association of Assessing Officers for downloadable forms. Remember, this application must be filled out and returned between September 1 to October 31. If your town is in the year of revaluation you have until December 30th to submit your application.

Forms 

 

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