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 the MI-1040CR-5 is e-filed, you do not need to send the property tax statements unless requested by mail.