Wisconsin lawmakers propose Farmland Preservation tax credit changes
Wisconsin’s farmland preservation tax credit program would get some updates under a proposal from two state lawmakers. State Senator Patrick Testin from Stevens Point tells Brownfield the changes are designed to incentivize more farmers to participate in the program. “We should lessen the timeline from 15 years to 10 years to utilize this program and increase the dollar amount per acre and so just based on that feedback alone, we think we’ve got a good opportunity here to make changes to these programs.”
Testin tells Brownfield he’s also concerned about agricultural tax credits that might go towards acres converted to other uses like wind or solar energy production. “I think that’s certainly going to have to be something that we discuss. I know that’s an issue that’s been popping up all over the state and, you know from my perspective, if the land is not being utilized specifically for ag uses and is being utilized for other areas, then I do think we have to take that into consideration.” Testin says losing productive agricultural land is a food security issue.
Testin says under this plan, most farmland preservation tax credits would increase to ten dollars per acre and would credit $12.50 an acre for land located in a farmland preservation zoning district that is also subject to a farmland preservation agreement. A new category would also give a $10.00 tax credit for certain acres used as conservation easements.
Co-author Representative Loren Oldenburg from Viroqua is introducing identical legislation in the State Assembly.
Testin says Wisconsin lost almost a million acres of productive farmland between 2010 and 2021.
Thank you for your informative newsletter. The loss of farmland is truly alarming., and your work in this area is very much appreciated .