Modifying provisions governing the taxation of forest reservations and fruit-tree reservations, and including effective date and retroactive applicability provisions

This bill modifies provisions governing the taxation of forest reservations and fruit-tree reservations. Current Code chapter 427C authorizes a property tax exemption for certain forest reservations and fruit-tree reservations, if the owner meets certain criteria established by the natural resource commission to be a forest or fruit-tree reservation. In addition to meeting the criteria established by the natural resource commission to be a forest or fruit-tree reservation, the bill requires the owner to also be receiving the homestead tax credit under Code chapter 425 in each assessment year the forest or fruit-tree tax exemption is received by the owner. The bill takes effect upon enactment and applies retroactively to existing and new exemptions under Code chapter 427C for assessment years beginning on or after January 1, 2025.