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Property Taxes Could Be On The Rise For Farmers

The latest round of property-value assessments will appear in your mailbox in the coming months. They could be a shock, especially to farmers. The Ontario Federation of Agriculture is telling its members they might not like what they see because of the rapid rise in farm prices since 2008. Executive member with the Oxford branch John VanDorp says farmers trying to expand will get hit hardest, "with the price of corn and soya beans starting to rise last year and continuing this year; there's also the drought and there's been a lot of interest in inquiring parcels of land by the larger farmers". Under Ontario's property-tax system, farmland can be assessed up to 25% of the value of residential land. Increases in assessments will be phased in over the next four years while any drop in property values will be applied immediately.

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