Pence signs bill delaying farmland tax change
Indiana Governor Mike Pence has signed into law a one-year delay on new calculations for property taxes on farmland.
The bill was the first one Pence has signed into law since becoming governor last month. He signed the bill during a ceremony Wednesday in the governor's office before a few dozen farmers and lawmakers.
Pence touted the measure as a step toward protecting Indiana's farmers.
The legislation stops the state from using updated soil quality figures that were projected to lead to an average 25 percent increase in tax payments for farm owners by shifting those taxes onto farmland.
Supporters of the delay say the new calculations could lead to $57 million in property taxes being shifted to farmland.
The bill requires state tax officials and Purdue University agriculture researchers to prepare a review of the soil productivity measurement for the Legislature to consider next year.
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