Farmers’ taxes unhitched to reality wagon

Ohio Farmers’ property taxes are calculated using an outdated method passed by Ohio voters in 1973. The CAUV ,”Current Agricultural Use Value’ worked well for four decades as a way to fairly figure property tax rates and preserve farmland, however, this method of calculation began to increase taxes up to 300% beginning in the year 2009 for Ohio farmers. Ohio Farmers’ property tax bills tripled on average in less than ten years.

The Ohio Farm Bureau has dubbed the “need for targeted change” as a priority issue as The CAUV formula inflates the land values on assumptions that are not valid in today’s agricultural economy. We need the tax formula to be calculated based on the true value of only the agricultural use of the land. Ohio farmers are taxed as though all of their farmland is producing crops.

There is a need to reexamine the CAUV formula and update it to protect and conserve farmland and be fair to farmers concerning taxation of real property.

There is a petition that is open to all residents to sign, not just farm families, that is being circulated by the Ohio Farmers United against unfair taxation. It can be found on the Ohio Farmers Union website: http://ohfarmersunion.org/2016/05/help-change-cauv-sign-circulate-the-petition/

Contact Peak 5 Advisors with any questions relating to your property taxes, we’ll happily guide you through any complicated property tax situations.

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