To make soils less acidic, the common practice is to apply a material that contains some form of lime. Ground agricultural limestone is most frequently used. The finer the limestone particles, the more rapidly it becomes effective. Different soils will require a different amount of lime to adjust the soil pH value. The texture of the soil, organic matter content and the plants to be grown are all factors to consider in adjusting the pH value. For example, soils low in clay require less lime than soils high in clay to make the same pH change. Generally, for best results, limestone should be applied two to three months prior to planting to allow time for it to neutralize the acidity.The most important factor determining the effectiveness of lime is placement. Maximum contact of lime with the soil is essential. Most liming materials are only slightly soluble in water, so incorporation in the soil is a must for lime reaction. Even when properly mixed with the soil, lime will have little effect on pH if the soil is dry. Moisture is essential for the lime-soil reaction to occur.

Here's a reference for more details: http://www.clemson.edu/extension/hgic...