Washington Code 84.36.500 – Conservation futures on agricultural land
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All conservation futures on agricultural lands acquired pursuant to RCW 64.04.130 or 84.34.200 through 84.34.240, that are held by any nonprofit corporation or association, the primary purpose of which is conserving agricultural lands and preventing the conversion of such lands to nonagricultural uses, shall be exempt from ad valorem taxation if:
Terms Used In Washington Code 84.36.500
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Nonprofit: means an organization, association or corporation no part of the income of which is paid directly or indirectly to its members, stockholders, officers, directors or trustees except in the form of services rendered by the organization, association, or corporation in accordance with its purposes and bylaws and the salary or compensation paid to officers of such organization, association or corporation is for actual services rendered and compares to the salary or compensation of like positions within the public services of the state;
Washington Code 84.36.800
(1) The conservation futures are of an unlimited duration;
(2) The conservation futures are effectively restricted to preclude nonagricultural uses on such agricultural land; and
[ 1984 c 131 § 11.]
NOTES:
*Reviser’s note: RCW 84.34.108 was amended by 1999 sp.s. c 4 § 706, changing subsection (3) to subsection (4).