Farm groups and legislators poised to work on high farmland property taxes in 2025
Full story: https://indianapublicmedia.org/news/f... Every year, farmers like Terry Hayhurst of Terre Haute contend with operating costs and fluctuations in prices for what they grow.
“Beans are down roughly about 25 percent what they were last year, and corn is down closer to 40 percent less than what it was last year,” he said. “So those two things are kind of going against one another. Even though our profitability is extremely limited, our expenses from property taxes continue to go up.”
For the last two years, property taxes on agricultural land increased markedly. From 2022 to 2023, the base tax rate rose 16 percent. This year, it went up nearly 27 percent. And next year, it’s estimated to increase by another 20 percent.
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