Pennsylvania Governor Ed Rendell recently signed Act 88 of 2010 into law. Act 88 protects landowners who participate in Pennsylvania’s “Clean and Green” program from large roll-back taxes due to the development of a gas well or pipeline on their property.
The Clean and Green program was established in 1974 to encourage Pennsylvania landowners to preserve their agricultural and forest land. To achieve this goal, the law provides an incentive and a disincentive: (1) qualifying landowners receive a preferential property tax assessment value which is based on the agricultural use of the land rather than its commercial fair market value; and, (2) landowners who convert or sell their land or any portion of their land for non-qualified purposes after it is enrolled in the program are required to pay seven years of roll-back taxes (plus interest) on the entire tract.
Read the full press release here Pennsylvania’s Clean and Green Law Amended to Protect Marcellus Gas Landowners.
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