Tax Relief for Farmers

In Madison County, county commissioners actually voted for and approved a measure to reduce the property value of farmland by approximately 10-13% depending on location. At first blush, no one likes to think that something they own all of a sudden becomes less valuable, but there is a huge upside for farm property owners… lower taxes.

 Madison County Commissioner Kimber Ricks said values had been  recalculated by removing from the tax base specific types of irrigation equipment claiming that it should not have been taxable in the first place.??Irrigation equipment is tax exempt by the Idaho State Code.

 The adjustment was calculated by County Assessor Brent Saurey in association with an accountant from Rudd & Company in Rexburg who represented Madison County farmers.?Here’s County Assessor Saurey: “In their valuation of the land, we concluded that they didn’t allow for taking out rent of a pivot or other irrigation equipment, so that’s why we did a reduction at the Board of Equalization.” In other words, property values will be lowered because the rental cost of irrigation equipment has been removed from the cash rent value of agricultural property.

 You, as a county official, were doing this to help farmers?   (Saurey) “I suppose you could say that.”