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Resource ID: #21066
Subject: Farms
Source: Associated Press
Affiliation: 
Date: March 29

$0.00

Description

The series explored loopholes across the country that allow developers to get extremely low property tax rates on land under laws intended to keep working farmers and timber growers from being taxed off their property. In many states, a developer need only cut hay on a property a couple of times a year to qualify for the benefit, and many states require no proof the "farm" actually earns any money. The reporters documented millions of dollars in savings reaped by people who fully intended to develop their land, some of whom saw their taxes drop by up to 400 times fair market value.

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