From the Northwest Indiana Times:
Some owners of agricultural land could get a break on their property taxes if Republican Mike Pence is elected Indiana governor.
Pence's running mate, state Rep. Sue Ellspermann, R-Ferdinand, announced Tuesday that a Pence administration would seek "a permanent solution" to pending increases in agricultural property assessments.
The value of farmland is based partially on soil productivity, with more productive soil assessed as more valuable for tax purposes. The U.S. Department of Agriculture recently released new state soil productivity values that would increase taxes for most farmland owners.
The Republican-controlled General Assembly voted earlier this year to temporarily delay implementation of the new soil productivity factors. Ellspermann said Pence would find a permanent fix.
"Coming out of a drought year we will have many farmers doing all they can to remain viable," Ellspermann said. "I think it's a very prudent time for us to look carefully at our (tax) policy."
She shrugged off concerns that local governments might be counting on revenue from higher farmland values to provide needed services.
Daniel Altman, spokesman for Democratic gubernatorial candidate John Gregg, said Pence has "no credibility" on farm issues after voting against the 2008 farm bill in Congress.
http://www.nwitimes.com/news/local/govt-and-politics/elections/pence-team-seeks-halt-in-rising-tax-value-of-farmland/article_467effc7-eade-55b2-bca7-92f0571cbb40.html
Some earlier posts on agricultural assessment can be found here:
http://indianapropertytaxreporter.blogspot.com/2012/03/legislature-delays-implementation-of.html
http://indianapropertytaxreporter.blogspot.com/2012/03/professor-of-economics-at-purdue.html
http://indianapropertytaxreporter.blogspot.com/2012/03/farmers-to-see-higher-property-tax.html
