As farmland continues to rise in value, more and more farm owners say they're struggling under the weight of increased property taxes, especially after 2019's poor harvest.
In Nebraska, property taxes are especially high. "On average, Nebraska farmers pay $16,200 in property taxes per year, among the highest figures of any state. And the state relies heavily on that money: More than a quarter of its total property-tax revenue, much of which pays for public education, comes from farmland," April Simpson reports for Stateline. "In fact, Nebraska brings in more cash taxing farmland than any state but California and Texas."
Critics say land value doesn't necessarily indicate what farmers are making off that land, and say "Nebraska’s antiquated system reflects a time when property ownership was an indication of wealth and income," reports Simpson, who notes that property taxes are also high in the northeastern U.S.
A new bill in Nebraska would decrease property-tax assessments, more so on farmland, and funnel excess state revenue to fund schools so districts are less reliant on property taxes, Simpson reports.
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