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Community-Wide Financial Impacts Of Preferential Assessments For Farmland Properties

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  • Taff, Steven J.

Abstract

I estimate the magnitude and the geographic distribution of property tax impacts of the Twin Cities Metropolitan Area's two farmland protection programs. The total 2001 net tax reduction for participating landowners was $12.5 million, ranging from $0.2 million in Ramsey County to $3.2 million in Washington County. These "tax breaks" were necessarily matched by tax increases for all property owners, both participants and non-participants, but the pattern of these "tax shifts" does not match the pattern of tax breaks. Residents in the periphery of the metropolitan area pay more (on a per tax dollar basis) than do residents closer to the core-just the reverse of the pattern of tax breaks. Preferential tax schemes such as these are often touted as "free," because their municipal budget implications are obscured by the complexities of the property tax system. But the full financial effects are very real indeed. Somebody has to pay.

Suggested Citation

  • Taff, Steven J., 2002. "Community-Wide Financial Impacts Of Preferential Assessments For Farmland Properties," Staff Papers 13244, University of Minnesota, Department of Applied Economics.
    • Handle: RePEc:ags:umaesp:13244
    DOI: 10.22004/ag.econ.13244
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    File URL: https://ageconsearch.umn.edu/record/13244/files/p02-03.pdf
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    1. Greden, Leah R. & Taff, Steven J., 1994. "Financing Farmland Preservation: The Twin Cities Metropolitan Area Experience," Staff Papers 13413, University of Minnesota, Department of Applied Economics.
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    Cited by:

    1. Harpankar, Kshama & Taff, Steven J., 2004. "Tracking the Effects of Conservation Easements on Property Tax Valuations," Staff Papers 13493, University of Minnesota, Department of Applied Economics.

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      Keywords

      Land Economics/Use;

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