Around the state of Ohio, farmers are getting seeing their property taxes soar thanks to the method used to set a value on their farmland. The state’s two main farmer groups want lawmakers to change that valuation formula.
The formula to determine property taxes on farmland is known as the current agricultural use valuation or CAUV. It’s been around for decades.
But according to Joe Logan, the Ohio Farmers Union president, a combination of low crop prices and other factors have sent property taxes up as high as 300% to 400%.
“It made for a skyrocketing, an absolute explosion in the tax rates for agricultural land.”
The Ohio Farmers Union and Ohio Farm Bureau Federation hope a change in the formula will be added to this year’s state budget bill, but that has school boards and districts very concerned because of the possible impact it could have on funding.