Representative Dan Swanson is partnering with the Knox, Bureau, and Henry County Farm Bureaus® to host a farmland assesment meeting in each of the three counties. The purpose of these meetings is to discuss increasing property assessments and adjusment due to flooding. The meetings will be held on Monday, March 2 at:
Due, in part, to a change in the Farmland Assessment Act, all farmland assessments will continue to go up. The rate of increase will be largely dependent on the soil type. Poorer soils will continue to see higher than 10% increases while better producing soils can expect an increase of less than 10%. This increase in assessed values will be reflected on property tax bills payable in 2020 and for several years to come.
Additional information will be provided on the opportunity to receive a flood debasement on those acres that saw crop loss and prevented plant due last year’s flooding.
The presentations, given by Brenda Matherly, Director of Local Government with Illinois Farm Bureau®, will give you a better understanding on how farmland assessments are calculated and the long-term impact on those values.
To accommodate seating and materials please pre-register with the Knox County Farm Bureau (309) 342-2036, Bureau County Farm Bureau (815) 875-6468 or Henry County Farm Bureau (309) 937-2411.