In Florida, people purchase land for many reasons. Often, it is done for a business opportunity. While most will think about that in the context of a commercial development or to build a structure for a specific purpose like parking or an event center, there are other reasons to buy land.
One is if they want to use it for agricultural purposes. It is not a simple matter of buying the property and using it for that objective. The law dictates the rules for classification and assessment of agricultural land. A key aspect of this is for the property appraiser to determine if the land is to be used for a bona fide agricultural purpose. It is important to be aware of this law and to have help if there is a dispute.
Understanding bona fide use and factors that will be considered
The appraiser will need to decide if the property owner’s planned use for agricultural purposes is valid based on many factors. First, it will check the land to see if it has been used that way and for how long. They will also want to know if its use was continuous or not. The price that was paid for the land will be factored in when the decision is made.
When land is being used for agricultural purposes, the size might be relevant. It is not necessarily going to need to be a minimum acreage to receive the agricultural assessment, but it could be considered. The land must be adapted sufficiently to be used for accepted agricultural use. That can include its fertilization, mowing and more.
For some, they want the assessment to lease the land to someone who will use it for an agricultural reason. The appraiser will want to know the details of the lease. Other factors can also be considered when deciding on its bona fide use for this purpose or not.
For real estate law issues, having experienced assistance can be vital
People inevitably have ideas as to what they want to do with a piece of land they have purchased or are thinking about purchasing. In some cases, they already own the land and want to adapt it for a different use. If it is believed to be a good location for a farm, a vineyard or other agricultural business, it is fundamental to have it appraised as such. When thinking about an agricultural assessment or facing problems when attempting to do so, it is useful to have professional assistance that understands all areas of real estate law.