CE - Land Use 101

23 Apr

CE - Land Use 101 - 04/23/2019

CE - Land Use 101 - 04/23/2019

Thursday, April 23, 2020 (11:00 AM to 1:00 PM)
2 Credits Real Estate Related CE Hours
DAAR-2, Ashburn, Virginia

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The land use assessment program provides for the deferral of real estate taxes on property that meets certain agricultural, horticultural, forestry, or open space use criteria. Eligible land is valued and taxed based on its use versus being valued and taxed at its fair market value. The deferred tax is the difference between the annual tax owed based on its fair market value and the annual tax based on its use value. The deferral continues as long as the qualified use continues. In Loudoun County, VA, there are over 150,000 acres enrolled in the land use assessment program receiving $13 million in deferred real estate taxes. Problems and confusion about the use of the land and continued deferral of taxes may surface when the property changes ownership.

The Land Use Assessment Class will provide real estate professionals with the tools they need to successfully represent their clients either selling or buying property that is in the land use program. Students will receive information about the land use assessment program, view some of the important documents, and learn what resources are available for their clients to access. Practice pointers and case studies will also be given to demonstrate best practices for real estate professionals.

DAAR-2 - Classroom 2
DAAR-2 (Classroom 2)
21720 Red Rum Drive, #177
Ashburn, VA 20110

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MEMBERS Please note: a fee of $20 will be added to your account for no-show and cancellation is not provided in the appropriate time frame.