Farmers Put Forth Efforts To Reduce Farmland Property Taxes
MANKATO (AP) — The amount of farmland property taxes that go toward paying new schools has become a topic of discussion in light of the tight farm economy.
Farmland owners pay taxes on their entire property toward bond referendums that have been passed to build new schools, while city residents' property tax bill is based on the value of their home and lot.
A provision for a tax bill passed in the last legislative session would have reduced the levy tax bill for farmers by giving them a tax credit from the state, but was vetoed by the Democratic governor due to a language error.
The annual Rural Legislative Forum will be held Dec. 8 and will provide an overview of the property tax system in Minnesota.