Tax reforms for Ohio's farmers - Hometownstations.com-WLIO- Lima, OH News Weather Sports

Tax reforms for Ohio's farmers

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Senate Bill 36 changes the Current Agricultural Use Valuation, or CAUV formula, which figures out the value of farmland for tax purposes. Senate Bill 36 changes the Current Agricultural Use Valuation, or CAUV formula, which figures out the value of farmland for tax purposes.

An Ohio Senate bill would update the way that property values for farmland are calculated, giving Ohio farmers a break. 

Senate Bill 36 changes the Current Agricultural Use Valuation, or CAUV formula, which figures out the value of farmland for tax purposes.  That formula has caused property taxes for farmers to skyrocket by as much as 300% in some areas in Ohio over the last few years.  The changes include removing certain parts of the formula; that would help local farmers who have been affected by the tax increases.

"Any business, and farming is no different than other businesses, really just has to be able to predict what their costs are," said Matt Huffman with District 12 Ohio State Senate.  "I got a call from a farmer in St. Henry; his taxes went from $4000 to $8000 to $12,000 in 3 years.  If that's with the government's doing, obviously we have a real problem with the formula."

The bill passed through the Senate and will now go through the House of Representatives.

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