Indiana Farmland Owners Brace for Higher Property Taxes in 2014

Feb 08, 2013

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

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.

Video: Did Bears Win Thanksgiving, Will Bulls Get Christmas?

Did the bears win Thanksgiving (although this week had green on the screen), and will the bulls get Christmas? Bears won thanksgiving thanks to a USDA Nov crop report dud that stalled the bullish grain momentum for a brief period. But a bullish lower yield surprise in the Dec crop report could reignite the rally.
2026 U.S. winter wheat planting is nearly complete at 97% while crop conditions improved by 3 points to 48% good-to-excellent. US corn & soybean harvest is complete.
High corn demand, which is off the chart, and more Chinese soybean demand could support a Christmas rally.
Nasdaq had it’s worst November since 2011.
A U.S. Fed rate cut in December will help fund flow and sentiment.
Bitcoin held a long-term support at 80,000 and that's positive for fund flow and sentiment. It should help stock prices and Ag as we go into December.
Fertilizer prices continue to climb as we look ahead to 2026. Farmers may rely more on the nutrients that they already have in their soils.
South American Weather remains critical as the soybean reproductive stage starts from late Nov to late Feb depending on planting date.
Will a Russia-Ukraine peace deal happen by year-end?
CFTC data as of showed more managed money fund sell-off as of October 14th.