Indiana’s farmland owners will pay higher property taxes in 2014 on the heels of an increase in the base rate for assessed land value, Purdue Extension agricultural economist Larry DeBoer says. The base rate, which is the starting point for calculating taxes on farmland, jumped from $1,630 per acre in 2012 to $1,760 for 2013. Taxes assessed on this year’s base rate will be paid in 2014. The base rate has exactly doubled in just seven years, from $880 per acre in 2007. Read More