Farmland Property Taxes May Keep Increasing
Jan 24, 2024•6 min
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Episode description
The memo was posted at the end of December, on the Indiana Department of Local Government Finance website. It announced the base rate for farmland at $2,280 per acre for property taxes in 2025. That’s up 20 percent from this year’s $1,900. It will be the third straight year of big increases. The base rate rose 16 percent from $1,290 in 2022 to $1,500 for 2023, and 27 percent to $1,900 for 2024. What’s the base rate, and why is it going up so much? Economist Larry DeBoer explains.
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