Property Ownership
In Maine, a property owner whose land is enrolled in the Farmland Tax Program receives a lower property tax assessment because the land is assessed based on:
AIts residential development potential
BIts agricultural use value✓ Correct
CThe average tax rate in the county
DThe cost to purchase neighboring farmland
Explanation
The Maine Farmland Tax Program assesses enrolled farmland at its agricultural use value rather than fair market value, reducing property taxes for active farmers.
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