06/23/2017

Lowering Farmland Values Means Homeowners Will Pay Higher Taxes

Several organizations oppose the plan to reduce farmers' taxes

A plan by legislative Republicans to give a tax break to farmers would mean higher property taxes for Ohio homeowners and less revenues for schools. According to an analysis of proposed farmland value changes in the new two-year state budget, Ohio homeowners face more than $60 million in unvoted property tax increases, while schools could face a loss of $58 million in state and local tax revenue,

That comes as 439 school districts would see either state funding cuts, or increases of less than 1 percent per year under the proposed budget.

GOP leaders want to give a break to farmers who faced significant property tax increases due to rising values. But because of how property taxes work in Ohio, lowering farm values means homeowners in more than 500 school districts would see the tax burden shift to them for levies already in place.

Please click here to read the complete article from The Norwalk Reflector.