This form is for an option to purchase residential real estate - Farm Land.
Kentucky Option For the Sale and Purchase of Real Estate - Farm Land
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That's why the rules around granting planning permission to build on agricultural land are strict. There are two major reason that planning consent is required: Change of use of the land or buildings from agriculture to something else. Erection of a new building on the land.
Average real estate value in Kentucky was $3,920/acre an increase of 2.6% from last year. Kentucky cropland value averaged $4,400/acre an increase of 2.3%, and pasture value was $3,060/acre, up 0.7% from 2019.
Kentucky's bluegrass region contains the state's best farmland. By contrast, the agricultural potential of the Knobs region (which borders the Bluegrass region) is limited because of its inferior soil and steep topography. The Pennyrile is also a productive agricultural region.
The Kentucky Revised Statute 132.010 (9, 10, 11) defines agricultural land as any tract of land, including all income producing improvements of at least 10 contiguous acres in area used for the production of livestock, livestock products, poultry, poultry products and/or the growing of tobacco and/or crops including
Properties like churches, utilities, schools, hospitals, offices, feed stores, kennels, etc., are often allowed to inhabit agricultural land. But, if you're buying agriculturally zoned land to build a house on, you have to be comfortable living next to farms that might raise livestock.
10 Farm Structures That Can Be Built on Agricultural LandBarns. When you picture a barn on agricultural land, you are probably thinking of the large traditional red barn most commonly associated with a farm.Poultry Coops.Loafing Sheds.Silos.Equipment Storage.Hay & Feed Storage.Cold Storages.Riding Arenas.
Kentucky is in the top five nationally for the highest number of farms with 85,300. The average farm size in the state is 164 acres. Various types of rich soil make up the gently rolling hills and scenic pastures. The Crider soil series, the most prevalent varieties, cover 500,000 acres and 35 counties in the state.
Christian County had the most land in farms in 2017 345,581 acres. Five other counties had more than 250,000 acres in farms Logan (276,309), Breckinridge (275,105), Warren (262,198), Barren (253,834), and Graves (251,192). The county with the largest average farm size was Union County at 689 acres.
Farm land is a real estate niche that deals with the purchase and sale of Arable land. This niche requires the real estate agent to have very particular knowledge about the land and farming industry.
Agricultural property is land or pasture that is used to grow crops or to rear animals intensively. This land could benefit from Agricultural Property Relief from Inheritance Tax granted by the Inheritance Tax Act 1984.