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, <br /> 1 <br /> f <br /> i <br /> agreement is permitted provided that the qualifying tract ( <br /> remains eligible for present-use value taxation. <br /> Class 0: D requires a twenty year development rights agreement. <br /> Class D provides for the additionaItenefit of a 20% reduction <br /> Pin the use value assessment for taxation provided in the N.C. <br /> th <br /> Preferential Taxation Program. In addition, no property. tax <br /> assessment would be made of new farm structures constructed <br /> on a Class 0 farm. The creation of three lots meeting Orange <br /> County Subdivision and Zoning ordinances standards and exempt <br /> from the agreement is premitted provided that the qualifying <br /> tract remains eligible for present-use value taxation. <br /> 2.2 Requirements of Participation <br /> I In order to qualify for participation in Class B, C or 0 of the <br /> program, farms units must qualify for and participate in the <br /> N.C. Preferential Taxation Program, equivalent to participation <br /> as Class A farm units. <br /> In order to qualify for participation in Class B, C or D of the <br /> program the following requirements must be met: <br /> a) I The bona fide farm unit must be certified by the Soil Conser- <br /> vation Service as being composed of a least 2/3 "prime or <br /> locally important" farmland. <br /> b) The farm must develop and adhere to SCS defined erosion con- <br /> trol practices that are addressed to critical areas located <br /> o n a bona fide farm. <br /> 1 <br /> 2.3 I Benefits of Participation <br /> . . . <br /> The following benefits will be gained by participation <br /> in Classes B, C and D of the program; <br /> a) The basis for assessment of farm property for taxation will <br /> be present use value for Class B farm units; at 10% reduction <br /> of the present use value for Class C farm units; and at <br /> 1 20% reduction of the present use value for Class 0 farm <br /> units. In addition, any new structure permanently affixed <br /> and reasonably used for farm activities on Class D farms will <br /> be exempt from property tax assessment. <br /> b) No assessment or fee for water and sewer extensions will be <br /> required of the farm unit owner as long as no use is made <br /> of the extension by the farmland owner. <br /> c) A disclosure statement will be required for all land trans- <br /> fers within 600 feet of all bona fide farm units and within <br /> one-half mile of all poultry, swine or dairy bona fide farm <br /> units informing purchasers of the preferred and pre-existing <br /> nature of the agricultural use of the adjoining tract and the <br /> county law assessing plaintiffs with legal fees for frivolous <br /> lawsuits, <br /> 4 <br /> ! , <br /> -- I <br /> 111•■ <br />