(1) "Agricultural activity" includes the growing, raising, and production of horticultural and silvicultural crops, grapes, berries, trees, fruit, poultry, livestock, grain, hay, and dairy products.

(2) "Dwelling house" means a residential structure or mobile home which contains one to four family housing units, or individual units of condominiums or cooperatives, other than a time-share in a unit, each of which is used or intended to be used as a residence. For the purposes of this subdivision, "time-share" means a time-share estate as defined by 32 V.S.A. § 3619(a).

(3) "Farmland" means land devoted primarily to commercial agricultural activities.

(4) "Value" means market value less all reasonable expenses that would be incurred in selling the property. Market value for purposes of this section may be determined based on evidence of market value deemed by the court to be reasonably reliable, which may include grand list valuation and the common level of appraisal used in the town where the property is located, if the court finds such evidence to be reasonably reliable. (Added 2011, No. 102 (Adj. Sess.), § 1; amended 2013, No. 102 (Adj. Sess.), § 4.)