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New CAUVs will more than double farmland taxes

Land and crop values set by the Ohio Department of Taxation will dramatically increase the property taxes farmers pay next year.

CAUV NUMBERS AT A GLANCE

 

■ Using a 103-acre Logan County farm as an example, County Auditor Michael E. Yoder shows the effect of the state’s new current agricultural use value.

                                                2010                   2013

Assessed Market Value      $245,500.00        $389,000.00

CAUV                                    69,460.00          169,830.00

Market Value Tax                     3,035.66              4,810.07

CAUV Tax                                  858.89              2,099.99

Still, the new current agricultural use values will save farmers more than 50 percent on annual property taxes when compared to the tax rate for nonagricultural land, Logan County Auditor Michael E. Yoder said.

CAUV is adjusted every three years as part of the state-mandated six-year revaluation process. Property values are adjusted halfway through the six-year cycle.

Tracts of farmland, pastures and woods of 10 acres or more are eligible each year for CAUV exemption, Mr. Yoder said. Smaller tracts that produce more than $2,500 in agriculture income also are eligible as long as the owner can document the earnings.

Property owners must apply each year by March for the exemption.

CAUV exemptions cut the values by more than half, therefore the landowners pay less in property tax.

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