Taxes on agricultural land study

For farmers facing low commodity prices and high property taxes, paying the bills can be a daunting and overwhelming proposition. A bill was heard this week that would launch a study to look at potential reforms to our existing property tax system for agriculture land. The study would examine how to more fairly value the agricultural land based on its production capacity.

The proposal would appropriate $100,000 for a joint study which would include the Commissioners of Agriculture and Revenue on the possibility of valuing agriculture land based on production value. The study would also review the ripple effect on other types of properties and local governments. The commissioners must seek input from the dean of the University of Minnesota College of Food, Agricultural, and Natural Resources Sciences in the design of the study.

 

 

 

 

 

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