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Why was my farmland preservation tax credit reduced for special assessments, collection fees in excess of 1%, penalties and/or interest?
Why was my farmland preservation tax credit reduced for special assessments, collection fees in excess of 1%, penalties and/or interest?
Special assessments (those not based on State equalized or taxable value and not levied using a millage rate), collection fees in excess of 1%, penalties, and interest cannot be claimed for a farmland preservation tax credit. Examples of common special assessments are drains, trash, police, fire, etc.