A new study from Purdue University on the effects of the state’s new method for taxing farmland shows what rural areas will take the biggest hit from the change.
Indiana taxes farmland mainly on the value of crops the soil can produce. But that calculation has lagged behind the current crop market.
The past week in the Indiana House of Representatives it was all quiet on the road funding front. But work continues behind the scenes with ongoing talks by Senate and House members and constituents about possible amendments to bills put forth. Justin Schneider at Indiana Farm Bureau was happy to tell a Friday conference call that one possible funding mechanism for roads appears to be going away.
Collapsing prices for U.S. corn and soybeans have made it harder for some farmers to pay their property taxes, at a time when these tax bills are soaring and the rate of farm bankruptcies is growing.
Over the past three years, farmland property taxes have jumped as much as 400 percent in parts of the United States, according to state and federal government data. One farmer in Ohio said his property tax bill has skyrocketed to more than $100 an acre from less than $20 seven years ago.
INDIANAPOLIS — Tractors parked outside the Statehouse Friday as farmers joined the governor for a ceremonial signing of bills designed to help Indiana’s agricultural economy.
The governor’s office said Senate Bill 238 will help make local soil and water conservation districts more impactful when it comes to watersheds and areas of conservation. SB 308 provides property tax relief for farmers. Gov. Mike Pence signed both pieces of legislation into law last month.
Kevin Underwood is a second-generation West Lafayette farmer. He can’t afford to replace his tractors for two reasons. There has been too much rain, and he’s under a property tax structure that charges him based on what he pulled out of the ground three years ago.
Second-generation West Lafayette farmer Kevin Underwood has been collecting model tractors since grade school.
But he can’t afford to replace the tractors he makes a living with because of the perfect storm of too much rain and a property tax structure that charges him based on what he pulled out of the ground three years ago.
INDIANAPOLIS — Indiana Farm Bureau delegates called for property tax relief and higher gas taxes during an annual delegate session Aug. 29.
More than 260 people from across the state met to discuss policies that will guide the organization through 2016. It’s the most important meeting of the year, said Don Villwock, president of Indiana Farm Bureau.
As Greater Clark County Schools prepares to ask voters to fund $109 million for improvements, the owners of some the largest plots of land in the school corporation are pushing back.
Read More: http://www.courier-journal.com/story/news/local/indiana/2015/07/31/farmers-resist-greater-clark-school-referendum/30962437/