News

Ohio Lawmakers May Lower Skyrocketing Farmland Taxes


State lawmakers are looking at giving Ohio farmers a break on their real estate taxes that have skyrocketed over the last few years.

The Blade reports that taxes for farmland are rising. Republican state Rep. Kirk Schuring estimates that property values have gone up 300 percent in recent years. However, prices for crops that farmers produce have dropped.

“Our agricultural community has had some very difficult times. In fact, they’ve been caught between a rock and a hard place,” said Schuring.

Property value is determined by the Current Agricultural Use Variation Formula. The complicated algorithm considers several things including mortgage interest rates, land production costs, crop prices and income.

Farmers argue that rising crop prices combined with low mortgage interest rates have created inflated land values. Many think the formula should be reworked.

Farmers are hope Ohio leaders will help them out in the two-year state budget that’s being considered in the Senate after it was approved by the House.

A proposal in the budget would change how the state determines the value of agricultural land, shifting to U.S. Department of Agriculture data that reflects the land’s farming value.

The County Commissioners Association of Ohio hasn’t taken a position on the proposal, but it says the measure would lead to a loss of money for local governments and school districts. Residential and business properties would then take the brunt of local tax burdens.

“It’s a legitimate push and pull between those who believe the income tax is the most fair tax and those who believe other taxes are the best way,” said Ron Sylvester, spokesman for the Ohio Farmers Union.

Another plan spreads the formula change out over six years to mitigate the impact it has on local governments.

The final budget is due by June 30.

Source: The Wichita Eagle 

ProAg Quick Links

Agent Toolbox Grower Toolbox Careers

ProAg News

2019 fall cover crop considerations

In our business, we have seen some excellent soil health and erosion benefits from cover crops and encourage growers to take a look at the rewards cover crops can provide. Whether you plan to interseed into a standing crop or wait to plant until after harvest, there are many options and variables to consider....

Dicamba Injury Study

Research has shown that soybeans entering the reproductive phase are most vulnerable to injury from dicamba. That reproductive time is now across the major production areas, according to the latest U.S. Department of Agriculture (USDA) Crop Progress and condition reports....

Bill would protect U.S. domestic food supply

U.S. Senators introduced bipartisan legislation to address the shortage of agricultural inspectors who protect our food supply and agricultural industries at the border. Agricultural inspectors work to prevent the intentional or unintentional entry of harmful plants, food, animals and goods into the United States....
Get ProAg updates via email
Your browser is out-of-date!

Update your browser to view this website correctly. Update my browser now

×