What must be multiplied to find the taxable value under FA-1?

To determine the taxable value under FA-1, the correct approach involves multiplying the number of acres by the agricultural or horticultural value and then applying the director's ratio. This method accounts for the fair evaluation of agricultural land by taking into consideration not only the land's potential productivity but also any adjustments necessary to align values with prevailing market conditions, as indicated by the director's ratio.

The director's ratio is a crucial factor because it provides a standard for assessing the true market value of the property within the realm of agricultural and horticultural properties. By combining the acreage with the agricultural value and adjusting it based on this ratio, assessors can ensure that the valuation reflects both the productive capacity of the land and conforms to assessment standards established by the state.

In contrast, other options either omit critical components, such as the director's ratio, or focus solely on acreage or value without the necessary adjustments for market evaluation, which are essential for accurately calculating the taxable value. Thus, the combination of acreage, agricultural value, and the application of the director's ratio together provide a precise determination of the taxable value in accordance with FA-1 guidelines.