National Ag News
Farm leaders call for property tax reform
Feb 22, 2017, 16:35 PM
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System
The Ohio Senate heard testimony Wednesday in favor of property tax reform.
The Certified Ag Use Value or CAUV formula determines property tax rates for farm land in Ohio. Central Ohio livestock farmer Katherine Harrison told Senate leaders farmers who are looking to expand and purchase farm land are prohibited by the tax burden.
“When you’re looking at farm land that is taxed at $120 per acre per year, and the reality that you MIGHT be able to generate $160 to $180 in rent on that land for a farmer to utilize it, that leaves me with a very small window of finance to be able to pay down an extremely large loan to purchase that farm land,” says Harrison.
Continue reading Farm leaders call for property tax reform at Brownfield Ag News.
