AlaskaSB 20034th Legislature - Second Session (2026)SenateWALLET

FARM & AGRICULTURAL LAND ASSESSMENTS

Sponsored By: Jesse Bjorkman (Republican)

Became Law

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 0 benefits, 0 costs, 3 mixed.

Provisional farm‑use status for new farms

Beginning Feb 1, 2027, owners with no farm‑income history may file a declaration of intent when they apply. They must give the assessor a copy of their IRS Schedule F by April 15 of the next year. S corporations do not need the declaration but must give the same Schedule F information by April 15. Missing the April 15 filing causes loss of the exemption. This intent process does not apply if the owner has an outstanding lease or option to buy the surface rights.

Who qualifies for farm‑use tax status

Beginning Feb 1, 2027, land counts as farm use if the owner or lessee sells at least $2,500 of farm products from that land in the tax year. This covers crops, fruits, flowers, livestock, and other farm goods. Adjoining land used under an approved soil conservation plan also qualifies. Land used to grow marijuana does not qualify.

Yearly paperwork for farm-use tax break

Beginning Feb 1, 2027, landowners seeking farm‑use assessment must apply to the local assessor by May 15 each year. Use the state forms and include the information required on IRS Schedule F. If you must file Schedule F, give the assessor a copy. S corporations (entities that elected S status) must give the same Schedule F information. If the land is leased for farm use, attach a signed lease covering the period claimed. If the land is already state‑classified or state‑restricted for agriculture, you do not need to file this local application.

Sponsors & Cosponsors

Sponsor

Jesse Bjorkman
Republican • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 18 • No: 2

Senate vote • 5/6/2026

PASSED Y18 N2