Small Iowa Farms Being Reclassified as Residential to Increase Taxes
I heard this on the radio this morning and had to look it up.
Some small farms in Iowa are being reclassified from agricultural/farm land to residential properties because, essentially, their farms aren't big enough. This reclassification is for county property tax purposes.
Sounds like money grabbing to me. Either through increased property taxes or to force the small farms to sell out to developers where more residential units can by built, and more taxes generated.
"With improving housing markets in many counties, most questions are about increases in property valuations, assessors say."
"Shari Plagge, Wright County’s assessor, said her office took a close look over the past year at properties smaller than 20 acres, given the growth of rural acreages."
So, why did the county assessor decide to take a closer look at these properties, which had been classified as agricultural? Particularly when you consider that "U.S. farm income is projected to fall to $62.3 billion this year, about 50% lower than the high set in 2013." Additionally, "Iowa farm income has followed suit, dropping about 42% to $5.5 billion in 2015 from a 2011 high."
It's simply a way to get more money. The money isn't in the farms, it's in the residential properties.
Most properties are seeing an increase in their tax rate of up to 70%. One property owner said his taxes are increasing about $30,000.
My guess is besides the money-grabbing politicians, some of the owners/corporations behind the really big farms are most likely also behind this. Force the little competition out of the game.
Here's a couple of links:
http://www.desmoinesregister.com/story/money/agriculture/2017/04/13/sorry-your-farm-isnt-farm-iowa-assessors-tell-angry-owners/100319984/
https://breakingnews-wiki.com/sorry-your-farm-isnt-a-farm-iowa-assessors-tell-angry-landowners/
Some small farms in Iowa are being reclassified from agricultural/farm land to residential properties because, essentially, their farms aren't big enough. This reclassification is for county property tax purposes.
Sounds like money grabbing to me. Either through increased property taxes or to force the small farms to sell out to developers where more residential units can by built, and more taxes generated.
"With improving housing markets in many counties, most questions are about increases in property valuations, assessors say."
"Shari Plagge, Wright County’s assessor, said her office took a close look over the past year at properties smaller than 20 acres, given the growth of rural acreages."
So, why did the county assessor decide to take a closer look at these properties, which had been classified as agricultural? Particularly when you consider that "U.S. farm income is projected to fall to $62.3 billion this year, about 50% lower than the high set in 2013." Additionally, "Iowa farm income has followed suit, dropping about 42% to $5.5 billion in 2015 from a 2011 high."
It's simply a way to get more money. The money isn't in the farms, it's in the residential properties.
Most properties are seeing an increase in their tax rate of up to 70%. One property owner said his taxes are increasing about $30,000.
My guess is besides the money-grabbing politicians, some of the owners/corporations behind the really big farms are most likely also behind this. Force the little competition out of the game.
Here's a couple of links:
http://www.desmoinesregister.com/story/money/agriculture/2017/04/13/sorry-your-farm-isnt-farm-iowa-assessors-tell-angry-owners/100319984/
https://breakingnews-wiki.com/sorry-your-farm-isnt-a-farm-iowa-assessors-tell-angry-landowners/
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