Cost of Development Rights

Agr 705.04 Cost of Development Rights. (a) The cost of development rights shall be measured as a ratio between the applicant’s declared fair market or ad valorem value for the land and the applicant’s declared value for the development rights to the parcel, as expressed in the formula below: Declared development rights value = ratio % Declared fair market value (b) Points shall be awarded according to Table 700-1, Points Awarded for Cost of Development Rights below: TABLE 700-1 Points Awarded for Cost of Development Rights Ratio % Points Awarded 1%-62% 15 62%-64% 14 64%-66% 13 66%-68% 12 68%-70% 11 70%-72% 10 72%-74% 9 74%-76% 8 76%-78% 7 78%-80% 6 80%-82% 5 82%-84% 4 84%-86% 3 86%-88% 2 88%-90% 1 90%-99% 0 (c) If the ratio falls exactly on an even percentage, the points awarded shall be the higher of the 2 numbers. (d) The maximum points awarded for this section shall be 15. Source. #1601, eff 7-1-80; ss by # 2237, eff 1-1-83; ss by #2887, eff 10-22-84; ss by #4098, eff 7-22-86, EXPIRED: 7-22-92 New. #7463, eff 3-21-01, EXPIRED: 3-21-09 New. #13910, eff 3-21-24 (see Revision Note at chapter heading for Agr 700)