6 min
Farmland Property Taxes May Keep Increasing Capital Comments
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- Government
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.
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.
6 min