FINANCING FARMLAND PRESERVATION: THE TWIN CITIES METROPOLITAN AREA EXPERIENCE
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Two farmland protection programs in the Twin Cities (Minnesota) Metropolitan Area--Green Acres and Agricultural Preserves-- together enrolled 608,331 acres in 1992. The principal financing tool was a provision common to both programs under which participating landowners paid reduced property taxes in exchange for certain non- development assurances. The resulting shift in property tax obligations to other taxpayers amounted to $7.6 million for the 1993 tax year, an average shift of $12.50 per enrolled acre. Annual per- acre tax reductions across localities ranged from zero to $933.