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F.

Forest & Farm Property Tax Deferral Programs - The programs provide a deferral of a portion of the property taxes when the land qualifies under these uses.  The "deferred" portion of the taxes are eventually totally forgiven if that land use continues for a specified period of time.

Farm or forest deferral of taxes does not make a property ineligible for mortgage insurance.  If it is likely that the farm or forest use will not continue, a termination of deferral and payment of all deferred taxes must be required.

HAZARDS & NUISANCES

To access information quickly, click on one of the following:

A.  Airports

B.  Railroad Tracks and Other High Noise Sources

C.  Flood Zones & Insurance

D.  Lead-Based Paint

E.  Radon

F.  Overhead High Voltage Transmission Towers & Lines

G.  Operating & Abandoned Oil & Gas Wells, Tanks, Pressure Lines

H.  Insulation Materials

I.  Lava Flow Zones

J.  Avalanche Hazards

The property must be free of all foreseeable hazards and adverse conditions that:  (1) may affect the health and safety of the occupants  (2)  may affect the structural soundness of the improvements  (3)  may impair the customary use and enjoyment of the property.  The hazards include toxic chemicals, radioactive materials, other pollution, hazardous activities, potential damage from soil or other differential ground movements, ground water, inadequate surface drainage, flood, erosion, excessive noise, defective lead base paint (24 CFR Part 35) and other hazards on or off site.  

Primary Reference for articles in this section are HUD Handbook 4150.1 REV-1 Chapter 4, and HUD Handbook 4150.2 Section 2-2.

A.

Airports

1.

Airport Noise

a.

Properties are not to be rejected solely because of airport influences (noise) if there is evidence of acceptance in the market and if use of the dwellings is expected to continue.  Special consideration should be given to determine if there is indication that adverse changes in market attitude are taking place in the area.  

2.

Hazards - Runway Clear Zones (aka Runway Protection Zones) at Civil Airports or Clear Zones or Accident Potential Zone I at Military Airfields.

a.

 All dwellings are acceptable provided the prospective purchaser acknowledges awareness that the property is located in a Runway Clear Zone/Clear Zone.  See HUD Handbook 4150.1, Rev-1, Sections 4-26 for a sample of the buyers acknowledgment certification.  This notification must be provided to the prospective purchaser at the time

Copy Printed: REVISION  I

   02/16/0217       Revision Effective:  05-30-00

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