The on-site hobby farm is fully fenced and irrigated, and offers an equestrian area that has previously served as a home for both horses and cattle. Whether it is for personal use or business use, this property serves as the fabulous farm setting. The additional 2.5 acres of undeveloped land allows for farm expansion or additional facilities. Authorized use of river water for irrigation is a HUGE bonus and, with a gross income of $2500/year, farm status is available.
Farm classification is a voluntary program under the British Columbia Assessment Act whereby owners of land who want all or part of their land classified as a farm can apply to the local assessor on an annual basis. Land meeting regulated requirements may be granted farm status. Farm land is not assessed at market value for property tax purposes but is valued at its value in farm use only.
For more information on farm classification, visit the BC Assessment website at www.bcassessment.ca
