Farmland Property taxes

Hoosier Farmland Property Taxes Set to Increase Substantially
01/15/2009 by Andy Eubank
The coming year will be quite challenging for farm lobbyists in Indianapolis looking for property tax reform that is meaningful to farmers. And until there is reform the tax rates for farmland keep going up. Larry DeBoer from the Purdue Department of Agricultural Economics delivered that news at the Fort Wayne Farm Show.The increase in the base rate of farmland was not part of property tax reform last year so that jump is still applicable. And DeBoer says look for some hefty increases in the coming years. "Right now for taxes payable this year the base rate has been set at $1,200 per acre. It was $1,140 last year. Next year’s rate has also already been set by the Department of Local Government Finance and it’ll be $1,250. That’s about a four percent increase. These next two are my estimates but they ought to be pretty good estimates because they’re based on data that’s already in the can. For taxes payable in 2011 I think it will be about $1,400 per acre, and in 2012 about $1,690. That’s a pretty substantial increase from 2011 to 2012."