Property Ownership
In Minnesota, the Agricultural Preserve program provides what benefit to eligible farmland owners?
AExemption from all property taxes
BReduction in property taxes based on agricultural value✓ Correct
CGuaranteed purchase by the state at market value
DExemption from environmental regulations
Explanation
Minnesota's Agricultural Preserve (Green Acres) program allows eligible farmland to be assessed at its agricultural value rather than its development potential, significantly reducing property taxes. To qualify, the land must be in agricultural use and enrolled in the program. This helps preserve farmland from development pressure.
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