Which of the following describes conservation use value?

Conservation use value specifically refers to the value of land based on its agricultural use and the intention to preserve it in that state, rather than allowing it to be developed for other purposes. This type of valuation is intended to encourage the preservation of farmland and open spaces by assessing property based on its current agricultural or conservation use, rather than its potential market value if developed.

This approach helps landowners maintain the land for agricultural purposes and supports conservation efforts by providing a financial incentive against development pressures. The focus on the agricultural use aligns with the concept of conservation as it prioritizes land management practices that protect the environment and agricultural heritage.

The other options describe different valuation methods that do not capture the essence of conservation use value. For instance, market value of property with improvements refers to the potential financial worth if the property is fully developed, while fair market value based on neighborhood pertains to comparable sales data in a specific area. Tax value based solely on previous assessments does not consider the current use or condition of the land, which is central to the definition of conservation use value.