Agricultural land means any tract at least ten acres in area, exclusive of land used in conjunction with the farmhouse, that is used for agricultural purposes or for the growing of merchantable timber.

Horticultural land means any land of at least five acres in area commercially used for the cultivation of a garden, orchard, or the raising of fruits, vegetables, flowers, or ornamental  plants.

Agricultural or horticultural value means the use value of  agricultural or horticultural land based upon income-producing capability and comparable sales of farmland purchased for farm purposes where the price is indicative of farm use value, excluding sales representing purchases for farm expansion, better accessibility, and other factors which inflate the purchase price beyond farm use Value.

Land devoted to agricultural or horticultural use, where the owner has petitioned for, and been granted, a zoning classification other than for agricultural or horticultural purposes, is excluded from the provisions of this act.

When the use of a part of a tract of land which is assessed as agricultural or horticultural land is changed, either by conveyance or other action of the owner, the right of the remaining land to be retained in the agricultural or horticultural classification for assessment shall not be impaired provided it meets the minimum requirements for such classification.

Land on which there has been established a systematic pattern of change of use over a  period of two years is excluded from the provisions of this act.

A farm residence occupied by the farm owner must be assessed at its fair cash value and is not eligible for agricultural deferment.

Utility buildings or houses used by tenants actually working on the farm can be valued according to the contribution they make to the agricultural production of the land.