490 Farm Building Exemption
filing period is October 1 through October 31 annually
The City of Torrington adopted a local ordinance for a property tax exemption for buildings used exclusively for farming, codes 187-30 through 33. Below is a list of standards which apply to this new exemption. However; for information always contact your Assessor's Office.
The purpose: To provide a property tax exemption for certain buildings used actually and exclusively in farming under the provisions of Connecticut General Statutes, Section 12-91 (c) to the extent of an assessed value of not more than fifty thousand dollars ($50,000) per building. This will assist in the on-going preservation of agricultural land.
Effective date: The effective date of this Ordinance shall be the Grand List of October 1, 2011.
Qualifications: Buildings qualified for an exemption under this Ordinance are:
a. any building used actually and exclusively in farming, as defined in Connecticut General Statutes, Section 1-1, and
b. such exemption shall not apply to the residence of such farmer or farmer on-site assistants.
Requirements/Provisions: The following requirements and provisions shall apply:
a. In order to qualify for a property tax exemption on farm buildings, such farmer must apply annually within thirty days after the assessment date to the assessor to the assessor on the forms prescribed by the Commissioner of Agriculture and include therewith a notarized affidavit certifying that such farmer derived at least fifteen
thousand dollars ($15,000) in gross sales from such farming operation, or incurred at least fifteen thousand dollars ($15,000) in expenses related to such farming operation, with respect to the most recently completed taxable year of such farmer prior to the commencement of the assessment year for which such application is
made. In addition the Assessor may require a copy of the applicants Schedule F, for unincorporated farm business, Form 1120or 1120S for
corporation/s, or Form 1065 for partnerships.
b. Failure to file such application in said manner and form within the time limit prescribed shall be considered a waiver of the right to such exemption for the assessment year.*
*Please note, failure to provide requested form/s will result in an incomplete application and denial of the exemption.
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