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Gov. Pence signs SEA 111

On National Ag Day, Governor Mike Pence showed his support for Indiana’s agriculture industry by signing Senate Enrolled Act 111 into law. The measure, authored by State Senator Jean Leising, again delays implementation of the new soil productivity factors and prevents a $57.4 million tax increase on Indiana’s farmers for an additional year.

The delay means the soil productivity factors on bare farmland used for the March 1, 2011 assessment date will again be used for the March 1, 2014 assessment date. Assessed value has more than double in the past seven years to approximately $1,760 per acre and is projected to triple in a ten-year period without any change in the soil productivity factors.

Leising says she’s pleased to have the Governor’s support on the bill. “We want to help farm families and the agriculture industry, and until we can develop a comprehensive solution, safeguarding farmers from an additional 25 percent average increase in property taxes is the best outcome,” she says.

Leising says a sufficient resolution is expected for the soil productivity factors during the 2015 legislative session.

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