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Michigan Farmland Preservation Credit

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Michigan Farmland Preservation Credit

Answer

What is the Farmland Preservation Credit?
The Farmland Preservation Credit gives back to farmland owners a share of the property tax they pay on their farmland. Farmland owners qualify for credit by agreeing to keep the land as farmland and not develop it for another use.

Farmland Preservation Credit Qualifications
You qualify if you meet all of these requirements:

  • You own farmland.
  • You have entered into a Farmland Development Rights Agreement (FDRA) with the Michigan Department of Natural Resources (DNR).

If you e-file your MI-1040CR-5, you do not need to send your property tax statements unless requested by mail.


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Article Details
Views: 1284 Created on: Jun 15, 2013
Date updated: Jan 04, 2019
Posted in: States, Michigan

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