Changes in Current Agricultural Use Value (CAUV) Assessment; Higher Ohio Farmland Property Taxes

June 8, 2010 at 9:27 pm

Large increases in the Current Ag Use Value (CAUV) of farmland throughout Ohio are a major concern to many landowners and have resulted in higher property taxes (some have seen significant increases) for most farmland owners.
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A couple of factors have led to much of this increase in ag use valuation. Higher crop market prices and a lower capitalization rate due to lower interest rates have been the primary drivers behind this increase in the CAUV for Ohio farmland.
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The Ohio Department of Taxation annually publishes an explanation of the CAUV valuation method complete with the measures used to calculate CAUV and examples of the calculations for certain soil units for the present year. This year’s document is titled “2010 Current Agricultural Use Value (CAUV) of Land Tables – Explanation of the Calculation of Values for Various Soil Mapping Units for Tax Year2010” and is available online at:
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http://tax.ohio.gov/divisions/real_property/cauv.stm
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Further background information on CAUV in Ohio may be found in the OSU Extension Factsheet, “Current Agricultural Use Value Assessment in Ohio” available online at: http://ohioline.osu.edu/cd-fact/1267.html
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Source: Ohio Ag Manager, June 2010, Barry Ward, Leader Production Business Management OSU Extension
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This blog is no longer being maintained. Information on this blog may still be relevant, but for the latest agronomic information and farm management information please visit http://corn.osu.edu and http://ohioagmanager.osu.edu, respectively.

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