Farms.com Home   Ag Industry News

Indiana Farmland Owners Brace for Higher Property Taxes in 2014

Agriculture economist says that base rate for assessed land value to increase

By , Farms.com

Indiana farmland owners should expect to pay higher property taxes in 2014 says Purdue Extension agricultural economist Larry DeBoer.

The expected increase in property taxes is due to the increase in the base rate for assessing land value. The base rate is the starting point for calculating taxes for farmland. It has increased from $1,630 per acre in 2012 to $1,760 for 2013; taxes assessed on this year’s base rate will be paid in 2014.

The trend of increased base rate has doubled in the past seven years; in 2007 it was only $880 per acre. In Indiana, farmland is assessed on the use value compared to the market value – it is based on the income that the land can generate, not the actual selling price.


Trending Video

Cleaning Sheep Barns & Setting Up Chutes

Video: Cleaning Sheep Barns & Setting Up Chutes

Indoor sheep farming in winter at pre-lambing time requires that, at Ewetopia Farms, we need to clean out the barns and manure in order to keep the sheep pens clean, dry and fresh for the pregnant ewes to stay healthy while indoors in confinement. In today’s vlog, we put fresh bedding into all of the barns and we remove manure from the first groups of ewes due to lamb so that they are all ready for lambs being born in the next few days. Also, in preparation for lambing, we moved one of the sorting chutes to the Coveralls with the replacement ewe lambs. This allows us to do sorting and vaccines more easily with them while the barnyard is snow covered and hard to move sheep safely around in. Additionally, it frees up space for the second groups of pregnant ewes where the chute was initially.