Only days into the 2017 legislative session, Minnesota Governor Mark Dayton on Thursday presented a tax bill that includes 40 percent Ag2School tax credit that would help address facility challenges for Greater Minnesota schools while relieving tax burdens for farmers.
Farm property taxes in Minnesota have increased 114 percent in the last decade. This problem has been compounded by low commodity prices and rising agricultural land values.
This tax credit would be available to all individual farm owners in Minnesota who pay property taxes for school district debt levies. For those farmers, the tax credit would reduce their taxes from those levies by 40 percent. For the 74,000 Minnesota farmers who live on their land, that would mean average relief of $243 on their annual property tax bill. Additional agricultural landowners would also see relief
