I doubt Tom Cruise or Goldie Hawn are raisning any crops themselves, perhaps they rent that property to others who work it for them. If they are raising crops on the property and are entitled to the tax break , why shouldn’t they get it?
When investers buy property for future development they should not be entitled to tax breaks.
Sheep graze for brief periods each year. See Denver Post article, part 2, links in posted article.
When investors buy property for future development ... so what? What is at question is what is the property being used for currently. If they are still grazing, haying, growing or otherwise putting the land to Ag use, they should get the Ag tax rate.
When they actually develop the land and sell it off, it then goes to either the commercial or residentual rates.