Agriculture is a vital part of Indiana’s economy, supporting more than 245,000 Hoosiers. Recently, the industry has dealt with severe financial difficulties due to a combination of problems including historically low crop prices, rising business costs and poor weather.
District 48 State Senator Mark Messmer of Jasper says it’s important for lawmakers to do everything they can to support the agriculture industry. He says in recent years, the Indiana General Assembly passed a series of short-term bills to prevent major property-tax increases on farmland, which proved to be effective.
This session, the legislature is working to pass a long-term solution to protect farmers from drastic increases in property taxes.
Messmer says last summer and fall, a legislative study committee took a comprehensive look at the issue and recommended a bill that would provide lasting reform.
Messmer says setting a floor for the capitalization rate and updating soil productivity factors will help Indiana’s agriculture industry bounce back. Messmer says Senate Bill 308 is projected to decrease the property-tax burden on farmers by almost $50 million in 2018 alone.
Senate Bill 308 unanimously passed the full Senate and is currently up for further consideration in the House of Representatives.
To continue to stay up to date on the progress of the General Assembly during the second half of session, visit www.in.gov/iga.
And as always you can contact Messmer’s office directly with questions and concerns by email at Senator.Messmer@iga.in.gov or by phone at 800-382-9467.
