Opinion No. 68-141 (1968) Ag

Agriculture Tracts — Ad Valorem Taxation Where a tract of land has been subdivided with dedication of streets and alleys and still used for agricultural purposes it should be assessed as other real estate of like grade and quality not exceeding 35% of its fair cash value as provided in 68 O.S. 2429 [68-2429] (1968), and such determination is for the county assessor. The Attorney General has had under consideration your letter of February 29, 1968, requesting an opinion. A 70 acre tract of land adjacent to but not within the city limits of Altus has been subdivided for development into lots…