By Andi Anderson
This summer, Indiana farmers are not only battling the usual challenges of weather, livestock management, and crop disease, but they are also facing a significant increase in property taxes.
Landowners have been hit with a 27% increase in farmland taxes this year, following a 16% hike in 2023. Some farmers are experiencing even steeper increases, with tax bills rising by 60 to 70% due to local school district debt obligations.
The Indiana State and Local Tax Review Taskforce met on June 18, where Katrina Hall, Indiana Farm Bureau's senior director of policy strategy and advocacy, testified about these substantial tax increases.
She highlighted the key elements affecting the base value of farmland and advocated for reforms that ensure stability, predictability, fairness, and consideration of the ability to pay.
State Representative Jeff Thompson, chairman of the House Ways and Means Committee, plans to address the complexity of the property tax system in the upcoming budget session.
He aims to tackle issues like farmland values and control the growth of tax levies, although he predicts that comprehensive reforms will take multiple legislative sessions.
In response, the Indiana Farm Bureau has formed its own tax task force to explore the factors contributing to farmers' tax burdens. This task force is working with legislative leaders and other stakeholders to find effective solutions.
As the Indiana Farm Bureau prepares its 2025 policy priorities, property taxes are a top concern. Members from across the state have been reviewing these priorities, and the finalized policies will be presented at the annual delegate session in August.
Farmers and rural communities are encouraged to share their personal stories with state legislators, emphasizing how rising tax bills impact their livelihoods. With conversations about the 2025 legislative session already underway, it is crucial to highlight these issues now to ensure they remain a priority.
Easing the tax burden is vital for Indiana's farmers, who are facing predictions of lower farm income and challenging commodity markets.
Achieving success in agriculture is essential for food security and the stability of Indiana's economy, where the agricultural industry plays a pivotal role.
Photo Credit: indiana-farm-bureau
Categories: Indiana, Government & Policy