Kokomo Tribune; Kokomo, Indiana

Business

January 19, 2014

Agricultural base rate increasing again for '14

State and county officials are letting farmers know that the base rate used to calculate the tax value of agricultural land is going up again in 2014, based on a state formula derived from factors including cash rent, yields, production costs, market prices and interest rates.

The base rate will increase from $1,760 for the 2013-pay-2014 tax year, to $2,050 for the 2014-pay-2015 tax year. Howard County Assessor Jamie Shepherd-Bryant announced the change in a press release issued last week.

“Agricultural land rates are provided and established by the State of Indiana on an annual basis,” Shepherd-Bryan explained.

“The Department of Local Government Finance (DLGF) provides all 92 counties with the certified rate to use in determining the overall assessed value of agricultural land. The calculations made for 2014 payable 2015 are based on a rolling six-year average (2006 to 2011) of market value-in-use.

“The lowest five years of the six-year rolling average are utilized. Once the state certifies the base rate of all agricultural land, the county assessor applies the soil productivity factor to the measured acreage to determine the overall assessed value.”

The base rate is one of the factors used to determine property taxes for agricultural land. The base rate is further refined through the application of another variable, soil productivity factors, as well as the number of acres, to arrive at a net assessed value.

The base rate has increased steadily in recent years. The base rate stood at $1,200 in 2008-pay-2009.

1
Text Only | Photo Reprints
Business
  • Apple offering free recycling of all used products SAN FRANCISCO (AP) — Apple is offering free recycling of all its used products and vowing to power all of its stores, offices and data centers with renewable energy to reduce the pollution caused by its devices and online services. The iPhone and iP

    April 22, 2014

  • Truth is often unwelcome Jim Feelwright greeted me warmly as I entered the room: "Well, here he is, Mr. Negative." Since it was a friendly meeting, I borrowed a famous line from the movies: "You can't handle the truth." "You," he said, "just don't want to see what's really h

    April 20, 2014

  • Kokomo custard 02 An old-fashioned custard stand Frozen custard, according to Mike Hinkle, is pretty much ice cream with egg yolks mixed in. "It has 1.4 percent pasteurized egg solids," said Hinkle, the longtime owner of Kokomo Frozen Custard, 3107 S. Webster St. "It's basically the same thing as F

    April 20, 2014 6 Photos

  • Business briefs, April 13, 2014 Farm Bill disaster assistance Farmers can sign-up for disaster assistance programs, reestablished and strengthened by the 2014 Farm Bill, beginning Tuesday, Howard County Farm Service Agency Executive Director Lisa A. Wooten announced. The Livestock

    April 13, 2014

  • Reality not built on press releases John Quill made his annual spring appearance last week and may stick around for another few weeks. As we enjoyed a relatively warm afternoon on the deck, he asked: "What do you think about the state of the state now?" "Unchanged," I said. "Impossibl

    April 13, 2014

  • Next year's high-skilled visas snapped up in days WASHINGTON (AP) — Businesses seeking highly skilled workers from overseas took less than a week to snap up all 85,000 visas available for next year, the U.S. Citizenship and Immigration Services announced Monday. The agency had been accepting applic

    April 7, 2014

  • California firm acquires Zuna Infotech Newark, Calif. information technology firm Systems in Motion has acquired Kokomo-based Zuna Infotech, setting the table for a potential local business expansion. Systems CEO Neeraj Gupta, said the San Francisco-area firm's expansion model is looking

    March 30, 2014

  • The ideological battle continues The ideological battle continues By Morton Marcus Syndicated columnist

    March 30, 2014

  • BIZ - KT032314 - footgolf pic 3 Coming to Tipton Municipal: Footgolf The number of golfers keeps declining and the sport's gatekeepers haven't been able to find an answer for more than a decade. So the board at the Tipton Municipal Golf Course is embarking on an experiment, hoping the brand new sport called "footgolf"

    March 23, 2014 3 Photos

  • Wal-mart price match [Duplicate] Wal-Mart's new tool gives competitors prices NEW YORK (AP) — The "Every Day Low Price" king is trying to shake up the world of pricing once again. Wal-Mart told The Associated Press that it has rolled out an online tool that allows shoppers to compare its prices on 80,000 food and household pr

    March 21, 2014 1 Photo

Latest news
Featured Ads
Only on our website
AP Video
US Proposes Pay-for-priority Internet Standards Wife Mourns Chicago Doctor Killed in Afghanistan FDA Proposes Regulations on E-cigarettes Kerry Warns Russia of Expensive New Sanctions Mideast Peace Talks Stall on Hamas Deal Cody Walker Remembers His Late Brother Paul Grieving South Korea Puts Up Yellow Ribbons Raw: Kerry Brings His Dog to Work Raw: Girls Survive Car Crash Into Their Bedroom Three U.S. Doctors Killed by Afghan Security Yankees' Pineda Suspended 10 Games for Pine Tar Colleagues Mourn Death of Doctors in Afghanistan Ukraine Launches Operation Against Insurgents Obama Reassures Japan on China Raw: Car Crashes Into San Antonio Pool Time Magazine Announces Top Influencers List Raw: Angry Relatives Confront SKorea Officials Bigger Riders Means Bigger Horses Out West Yankees Pineda Ejected for Pine Tar Deadly Fungus Killing Bats, Spreading in US
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Obituaries
Poll
Kelly Lafferty's video on Tom Miller