Open space land, current use

From the 2024 DOR Tax Exemption Study

84.34.060 - Open space land, current use Description Open space land and timber land in the current use program are valued based only on the use of the property and does not include potential uses of the property. Open space land in the current use program is valued using either a public benefit rating system (PBRS) no lower than the lowest per acre value of farm and agricultural land in the county if a PBRS does not exist. Timber land in the current use program is valued in the same way as designated forest land, using land grades and operability classes. Purpose Encourages the owners of open space and timber lands to keep the property in its natural state by valuing the land as it is currently being used rather than its highest and best use. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $5.503 $5.586 $5.672 $5.760 Local Taxes $16.289 $17.076 $17.905 $18.776 Repeal of Repealing a property tax exemption would not increase state revenues. The repeal exemption shifts the state property tax to the currently exempt taxpayers and reduces the tax burden of other taxpayers. The repeal may decrease the local rate. Local taxing districts at their statutory ma