Understand assessment calculations and long-term impact on farm values.
Like it or not, farmland owners will see increases in their property assessments for years to come. To more fully understand the upsurges, an informational meeting has been planned for landowners at the DeKalb County Farm Bureau.
For the benefit of landowners, Brenda Matherly will explain the change in the Farmland Assessment Act that caused farmland assessments to rise.
Farm Bureau is hosting a farmland assessment meeting on Wednesday, June 26 at 6:30 p.m.
At the meeting, Brenda Matherly, Assistant Director of Local Government with Illinois Farm Bureau, will give landowners a better understanding of how farmland assessments are calculated and the long-term impact on those values.
Matherly will explain that due, in part, to a change in the Farmland Assessment Act, all farmland assessments will continue to go up. The rate of increase will be largely dependent on the soil type. Poorer soils can expect to see a higher than 10% increase while better producing soils can expect an increase of less than 10%.
This increase in assessed values will be reflected on the property tax bills payable in 2019 and for several years to come.
Members who are interested in attending this meeting should register with the Farm Bureau office by
June 24.