All perfect praise be to Allah, The Lord of the Worlds. I testify that there is none worthy of worship except Allah, and that Muhammad is His slave and Messenger.
If by ‘agricultural property’ you mean machinery, then there is no Zakaah on such machines unless you bought them for trade. If you bought them for trade, you should evaluate them after the passing of one lunar year under your possession, and if the value is equal to the price of 85 grams of gold (along or with other tradeable items), then pay their Zakaah 2.5%.
But if such machines were bought to rent out, then you have to pay 2.5% of the revenues that amount to the price of 85 grams of gold (alone or with other articles of wealth) and after passing one lunar year under your possession.
Here, we state that it is the duty of a person who rents out the machines and benefits from them to pay the Zakaah, not on the owner who receives nothing as stated in your question.
On the other hand, if you mean by "agricultural property" the land itself, then you do not pay Zakaah unless this land is intended for business. But Zakaah of the crops that are produced from this land becomes obligatory at the time of harvest and if this harvest is subject to Zakaah in its value, then it is to be given by one who benefits from the land not the owner.
For more benefit on Zakaah, please refer to Fataawa 165375, 401332, and 379973.
Allah knows best.