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CAUV reform included in Ohio budget

Ohio’s recently signed state budget includes tax relief for farmers.

The Current Agricultural Use Value (CAUV) formula taxes farmers on a rate that reflects the agricultural use of farmland rather than its value as a development property.

The Ohio Farm Bureau says the updated legislation will result in an average of 30 percent savings on 2017 reassessments. The bill also ensures farmers are not penalized for adopting conservation practices that protect water quality.

Changes will be phased in over the next six years as part of two reassessment cycles.