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Simple English definitions for legal terms

special-use valuation

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A quick definition of special-use valuation:

Special-use valuation is a process of determining the value of a property, especially farmland, in an estate. It allows the executor to value the property at its current use instead of its highest potential value. This helps in reducing the tax burden on the estate.

A more thorough explanation:

Definition: Special-use valuation is the process of valuing real property, such as farmland, at its current use rather than its highest potential value. It is an option available to executors of an estate for tax purposes.

Example: Let's say a farmer passes away and leaves behind a large piece of farmland. The executor of the estate can choose to value the land based on its current use as farmland, rather than its potential value as a commercial or residential development. This can result in a lower tax bill for the estate.

Explanation: Special-use valuation allows for a more realistic and fair assessment of the value of certain types of property, such as farmland, that may not be used to their highest potential. By valuing the property based on its current use, rather than its potential use, the tax burden on the estate can be reduced. This can be especially helpful for family-owned farms that may not have the resources to pay high estate taxes.

special-use permit | special venire

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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