Legislature Backs Delay for Indiana Farmland Tax Hike Created by kblakeslee on 2/18/2013 5:49:46 PM
INDIANAPOLIS (AP) _ New calculations for property taxes on Indiana farmland would be delayed for a year under a proposal approved by the state Legislature.
The Indiana House voted unanimously Monday in favor of the delay that the Senate approved last month.
The bill would stop the state from using updated soil quality figures that were projected to lead to an average 25 percent increase in tax payments for farm owners.
Supporters of the delay say that the new calculations could lead to $57 million in property taxes being shifted to farmland.
The bill requires state tax officials and Purdue University agriculture researchers to prepare a review of the soil productivity measurement for the Legislature to consider next year.
The measure now goes to Gov. Mike Pence for his consideration.