Form 34 - Qualified Farm Property Valuation Election Application (Section 5731.011 O.r.c.) Page 2
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4Estate Tax Form 34
Revised 12/01
Part II – Election
The following information must be provided to the Tax Commissioner before a farm property valuation election
may be made.
1. Description of farm property. Attach a full legal description of the farm property subject to election, and identify by
schedule and item number on the estate tax return the farm property subject to the election. If the farm property is held
by a partnership, corporation or trust, identify such entity. (The interest in a partnership, corporation or trust qualifies
only if farm property would have qualified if decedent owned it directly.)
2. Fair market value. Attach a statement of the fair market value of the farm property, including a copy of the appraisal.
The appraisal must show separate values for the one-acre homesite, the improvements and the land only.
3. Qualified heirs. List the names, relationship to the decedent and addresses of the qualified heirs who have or will
receive the farm property.
Name
Relationship
Address
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4. Transfer instrument. Attach a copy of the legal document transferring the farm property to the qualified heirs. If not
transferred when estate tax return filed, a copy must be submitted within sixty (60) days of the date of transfer.
5. Agricultural use application. Attach a copy of the most recent real estate tax card(s) showing the agricultural use
value and the appraised value. (Circle agricultural use value on copies.)
c
If no application has been filed, check here
and complete the worksheet titled Estate Tax Form 35 – Worksheet for
Developing the Value of Qualified Farm Property.
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