Farmers to see tax valuations increase by 77% ...Middle East

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Farmers to see tax valuations increase by 77%
source : Sentinel-Tribune ( Middle East ) () 16
Wood County farmers are going to see their tax valuation increase by 77% and their tax bill increase by an estimated 35-40%, says Brian Jones, CAUV specialist for the Wood County Auditor. Jones and Auditor Matthew Oestreich spoke to over 200 residents, mostly farmers, at a public meeting held at the Wood County Fairgrounds’ Junior Fair Building Wednesday. For the first time in years, farmland valuations are increasing based on Ohio’s Current Agricultural Use Values (CAUV). The CAUV formula takes into consideration the average yields of corn, soybeans, or wheat per acre over a 10-year period, a farmers’ average costs over a seven-year period, and average capitalization rates over a seven-year

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