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Senator Caswell's property assessment tax legislation signed by governor

LANSING, MI (WTVB) - State Senator Bruce Caswell’s legislation designed to protect agricultural property tax assessments from artificial inflation was signed into law this week by Michigan Governor Rick Snyder. The bill specifies which parcels of property may be considered as agricultural property in the sales ratio studies used by assessors to determine the property tax assessments.  Caswell’s legislation excludes parcels from the sales ratio studies that do not have an affidavit attesting to continued use as agricultural land filed by the purchaser of an agricultural parcel.

Caswell says for too many years, farmers have seen property tax assessments on their property increase because the land value has been compared to agricultural property purchased by developers at a higher price. He said his bill ensures that the assessments on farm land will be based on the market value of other parcels of farm land, not the value of farm land sold for housing, commercial uses, or industrial development.