My father in-law owns and farms 40 acres of tillable farm land. We are interested in buying a property that consists of 15 acres of woods that includes a small clubhouse, there is no tillable ground. It is currently taxed as residential.

Could this property be purchased and taxed as part of his farm ground since it is less than the 40 acres already owned?

I understand that we can also have it taxed as other farm by enrolling in a forestry program.

Greetings Matt:

Please refer to the Illinois Department of Revenue's website regarding answers to this legitimate and commonly asked question:

IDOR Publication 135 - Preferencial Assessments for Wooded Acreage: http://www.revenue.state.il.us/publications/Pubs/Pub-135.pdf

IDOR Publication 122 - Instructions for Farmland Assessments: http://www.revenue.state.il.us/publications/pubs/pub-122.pdf

Ultimately, the easiest way to guarantee the lowest possible property tax assessment on this new acreage, which is 1/6 the equalized assessed value as cropland, is to enroll the 15 acres of timber in IDNR's Forestry Development Act:

http://dnr.state.il.us/conservation/forestry/IFDA/index.htm