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Committee concurs 7-0 on tax bill to let grazing-rights payments count as farm income
Summary
The Ways and Means Committee voted unanimously to concur with a miscellaneous tax bill that would let landowners count grazing-rights payments of $2,000 or more as sales of farm crops for current-use property tax eligibility on parcels under 25 acres; staff warned of verification and administrative challenges.
The Ways and Means Committee voted unanimously, 7-0, to concur with a miscellaneous tax bill that would allow grazing-rights payments of $2,000 or more to be treated as sales of farm crops for current-use property tax purposes on parcels under 25 acres.
The department's director of property evaluation and review at the tax department told the committee the change would let a landowner who receives $2,000 from grazing rights qualify the parcel for agricultural current-use classification if that payment is declared on federal tax returns. "It's gotta be something that you've actually declared on an income tax return," the director said, describing the department's plan…
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