Public Act 490 is a CT law passed in 1963 that allows your farm, forest, or open space land to be assessed at its use value rather than its fair market value for purposes of local property taxation. The use values are recommended by the Office of Policy & Management and the Dept of Agriculture and are updated every 5 years.
To qualify for classification of land as farm land, the land must be part of a farm unit, or actively used for farming purposes (farming as a business, not a hobby).
To qualify for classification of land as forest land, the land must be certified as forest land by a 490 certified forester. Contact the Assessor's office for further details.
To qualify for classification of land as open space, the designated open space must be that portion of a parcel deemed excess acreage and must be equal to or more than the minimum lot size of the parcel.
The aplication period for Public Act 490 is between September 1 and October 31 in a non-revaluation year. In a revaluation year the application period is extended into January.
Because the intent of Public Act 490 is the preservation of CT's farm, forest, and open space lands, once such lands are classified they may become subject to a conveyance tax penalty upon a sale or change of use withn a 10-year period. Therefore all applicants should make themselves aware of the statues that apply.
See the Forms and Applications tab for State Statutes and applications specific to the use.