Agricorp assesses your property's eligibility for the Farm Property Class Tax Rate Program based on four program eligibility requirements.
The Municipal Property Assessment Corporation (MPAC) classifies your property based on requirements set by the Government of Ontario through the Assessment Act.
Your property is actively being farmed by yourself, a tenant farmer or both and generates an annual gross farm income of at least $7,000. All farm income and expenses need to be filed with the Canada Revenue Agency. An annual gross farm income exemption may apply.
Ontario farm businesses that gross $7,000 or more in annual farm income are required by law to register their businesses with Agricorp each year under the Farm Business Registration (FBR) program. An exemption may apply.
If the property is owned by a corporation, more than 50% (i.e., 50.1%) of the voting shares need to be legally owned by individuals who are Canadian citizens or permanent residents of Canada. Requirements for other ownership types can be found in the Assessment Act and Ontario Reg. 282/98.
