Farm status for property taxes

In British Columbia you can reduce your property tax burden on a agricultural property by gaining a farm status designation on the property from BC assessment. The basic rule is that when you have less thatn 2 acres of agricultural land you must have sales in excess of $10,000 of agricultural products grown on that land and sold off that land. Just to be clear what you consume or feed your family off the land is not included. If you have between 2 and 10 acres the number drops to $2500, Over 10 acres requires the $2500 plus 5% of the value of land over 10 acres. Income for the purposes of farm class will be calculated based on the farm gate price you receive on qualifying agricultural products.  To see a list of qualifying agricultural products as well as the rest of the rules check out the website at bcassessment.ca/public