(A) Prior to each application cycle, the Township Agricultural Preservation Board shall select which method it will utilize to determine the value of development rights/agricultural conservation easements. The Preservation Board shall utilize either the points-based appraisal method as set forth in Public Act 262 of 2000, being M.C.L.A. §§ 324.36201 et seq., or state certified appraisals. State certified appraisals shall calculate the value of development rights/agricultural conservation easements as the difference between the fair market value of properties with development rights intact and the value of properties for agricultural use with agricultural conservation easements in place. The Township Agricultural Preservation Board shall establish guidelines, consistent with state standards, for state certified appraisals. The appraisal formula shall establish a base value according to the parcel’s size, soil characteristics and proximity to other protected farmland. The base value shall be increased if any parcel qualifies for a market value adjustment based on its location in the township and length of road frontage. In determining a market value adjustment, an average of actual vacant land sales in the township of parcels over 20 acres zoned for agricultural purposes during the prior three years shall be calculated. Parcels may also qualify for a premium based on proximity to sewer and water as determined by formula established by the Township Agricultural Preservation Board. The Preservation Board shall review the points-based appraisal method at the end of each application cycle and compare the value of development rights/agricultural conservation easements with actual fair market sales in the township.
(B) A property owner may obtain an independent appraisal of the value of the development rights/agricultural conservation easement. Such independent appraisal shall be conducted by a state certified appraiser, shall be at the property owner’s sole expense and shall be completed within the time period set by the Preservation Board. The appraisal shall calculate the value of the property with development rights intact and the value of the property for agricultural use with an agricultural conservation easement in place. Methods utilized by independent appraisals shall be consistent with those established in division (A) above.
(C) Subject to approval by the Township Board, the Agricultural Preservation Board shall set the purchase price for the development rights/agricultural conservation easement. If the property owner obtains an independent appraisal reflecting a different price, it is within the discretion of the Agricultural Preservation Board to renegotiate terms.
(D) The property owner may be paid in one cash payment, by installment payment or by a combination of both. Payment shall occur at the time of closing with the landowner, and shall be made by check from the township to the landowner or, in the alternative, shall be made as an installment purchase upon agreement of the terms of the installment purchase between the landowner and the township.
(Prior Code, Ch. XXXI, § 10) (Ord. passed 8-16-2004)