INDIANAPOLIS (AP) - Lawmakers are advancing a proposed one-year delay in new
calculations for property taxes on Indiana farmland.
It could delay
an average 25 percent increase in tax payments for farm owners.
The bill would
stop the state from using updated soil productivity figures in setting new
property tax rates this year. The productivity measure is one of the factors
used to determine the land value.
The legislative
proposal would require state tax officials and Purdue University agriculture
researchers to prepare a review of the soil productivity measurement for the
Legislature to consider next year.
Bill sponsor
Sen. Jean Leising of Oldenburg says she wants to make sure farmland is being
assessed in a commonsense way.
The House Ways
and Means Committee approved the bill Monday after it earlier passed the
Senate.
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