Oregon Option to Purchase Farm Land to be Developed for Industrial or Commercial Purposes
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How to fill out Option To Purchase Farm Land To Be Developed For Industrial Or Commercial Purposes?
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FAQ
Not only is farmland a good investment in an inflationary environment farmland also provides robust average annual returns. Between 1992 and 2020, farmland provided average annual returns of nearly 11%, including income and price appreciation.
Many rural properties are eligible for special assessment or deferral of some or all of their property if it is "used for a qualifying farm use." The purpose of this program is to provide a financial incentive to property owners, in the form of reduced property values, for keeping their land in agricultural production.
If current development trends continue, 1.3 million acres of California agricultural land, including 670,000 acres of prime, unique and statewide important farmland, will be developed by 2050.
State law requires that for farmers to qualify, they have to gross $100 an acre. If they farm less than 6.5 acres, they must earn $650 in grossnot netincome in three out of every five years. That threshold has not changed in decades and would be more than $3,500 today if adjusted for inflation.
10% of the world's arable acres lie within the United States. Agriculture contributes $992 billion to the American economy each year. 31 million acres of farmland lost to development, in total, between 1992 and 2012. That's 175 acres per hour of agricultural land lost to development 3 acres per minute.
The purpose of the EFU (exclusive farm use) zone is to provide areas for continued practice of commercial agriculture. It is intended to be applied in those areas composed of tracts that are predominantly high-value farm soils as defined in OAR 660-033-0020(8).
CLACKAMAS COUNTY ZONING AND DEVELOPMENT ORDINANCE. EXCLUSIVE FARM USE DISTRICT (EFU) (7/1/04) PURPOSE A. To preserve agricultural use of agricultural land. B. To protect agricultural lands from conflicting uses, high taxation and the cost of public facilities unnecessary for agriculture.
For planning purposes the zoning ordinance as it pertains to EFU, generally allows for only one single family dwelling unit, buildings accessory to a dwelling, and permitted agricultural buildings for animals and equipment as necessary to operate a farm.
Dwellings on Farm and Forest Lands In EFU zones, dwellings are allowed in seven different circumstances, including primary farm dwellings, accessory farm dwellings, relative farm help dwellings, non-farm dwellings, lot-of- record dwellings, replacement dwellings and temporary hardship dwellings.