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More than 400 property owners throughout Bucks County beat the deadline this year to obtain preferential tests on their land that will enable these to pay reduced real estate taxes.
Those property owners filed applications with the Bucks County Aboard of Assessment by June Menschen arbeiten 1 to pay taxes beneath Act 319. If accepted into your program, their real estate income taxes can be cut by up to 95 percent, according to Richard Brosius, main county appraiser.
Many of the applicants are already taxed under Work 515, a similar program being removed in two years. In the spring, your Assessment Board notified virtually all Act 515 taxpayers that the program would expire on August 1, 2003, and many answered by asking for transfers to Respond 319.
Act 515 was adopted by the General Assembly in the early 1970s that can help preserve open space. Simply Als je erover nadenkt by promising to keep their land undeveloped, owners of 10 acres or higher could receive the preferential assessments. Owners of 1,693 parcels comprising 45,494 acres in Bucks Region currently enjoy lower tests under Act 515, and their regulations and tax breaks usually amount to about 1 / 2.
Over the years, though, county reps realized Act 515 was not effective in preserving open space. Concerning two thirds of the properties participating in Act 515 are single properties on parcels of under 15 acres. In many cases affecting larger tracts, developers purchased the properties and de su cabeza out of cash the covenants because the penalties and also rollback taxes they faced ended up of little consequence as compared to the development value of the territory.
In 1993, the commissioners decided to opt out of Behave 515. Under law, they were forced to give property owners 10 years' notice. Since then, Brosius said, the Analysis Board has received about Hundred inquiries a year from homeowners wondering whether their terrain would qualify for Act 319 checks. This year, prompted by the company's letter, the board acquired more than 400 requests.
Brosius mentioned the board's appraisers are spending summer time traipsing from property to help property checking the qualifications on the Act 319 applicants.
Under legislations, the properties must be bigger than 10 acres and be found in active farming or hardwood use. Owners of smaller tracts can also participate, but they must provide proof their land generates at least $2,000 per year in farm or wood income.
In addition, people who unique large tracts but usually are not in the farming or Halliday gezeigt  59 wooden business can also participate in Behave 319. Such properties, which have to be larger than 10 acres, will get the preferential assessments if they are ready to accept the public, without cost, for "outdoor entertainment or enjoyment of panoramic or natural beauty."
A Act 319 assessments usually lead to tax breaks of up to 95 percent.
Now, there are 1,942 parcels within Bucks County under Behave 319, comprising 64,046 acres. This Assessment Board said individuals property owners are saving pertaining to $1.1 million in county levy and $4.8 million going to school tax a year.
Brosius said a few large farm owners whom could have benefited for years using Act 319 assessments are among the candidates who made this year's final target time. If accepted into Respond 319, the property owners will see their first tax reductions batch that we get.
  
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