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Farmland Preservation Tax Credit

Under current law, the farmland preservation tax credit may be claimed for land engaged in agricultural use, if the land is subject to a farmland preservation agreement or located in a farmland preservation zoning district, or both. The credit must be claimed on a form prepared by the Department of Revenue (DOR), on which, among other items, a claimant must certify the number of qualifying acres for which the credit is claimed. For tax years beginning after December 31, 2022, 2023 Assembly Bill 480 specifies that no credit may be claimed for any qualifying acreage on which a photovoltaic solar energy system is located, unless the solar energy system qualifies as an accessory use, as defined by law.1