Agricultural property classified pursuant to § 10-6-110 shall be valued for taxation purposes in the usual manner. However, the board of county commissioners of the county where such property is located may, in its discretion, freeze the property taxes levied for a period of five years immediately following the purchase of agricultural property by a beginning farmer.

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Source: SL 1994, ch 81, § 1; SL 2021, ch 44, § 44.