Farmers Pay the Price as Property Taxes Soar
Around the state of Ohio, farmers are seeing their property taxes soar because of the way their land value is calculated. As Statehouse correspondent Andy Chow reports, the state’s two main farmer groups want lawmakers to change the formula.
The formula for determining property taxes on farmland is known as the Current Agricultural Use Valuation (CAUV). It’s been around for decades.
But according to Joe Logan, the president of the Ohio Farmers Union, a combination of low crop prices and other factors have sent property taxes up as high as 300-400 percent.
“It made for a skyrocketing, an absolute explosion in the tax rates for agricultural land," Logan said.
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 districts very concerned because of the impact it could have on funding.