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Nw Iowa | There has to be property tax, still have to maintain roads, clear snow, run school bus into rural areas. The reality in some areas with small towns, there would be no school money at all if farmland wasn’t taxed. I live in Mn on the border and have farmland in both Iowa and Mn ( mostly in Mn unfortunately) but one and only thing I do like about Mn is the homestead exemption. Basically gives a advantage to a person who lives on their farm or now a exclusion if a direct family member still farms the land. I don’t know what the current exemption is but last I remember was approx the first 80 acres taxed at the reduced rate before recent valuations that have been just plain stupid. The bad news in Mn is that a lot of tax valuations are now 20% over actual value on many properties with some counties , some counties not as far off. They have went absolutely crazy on valuations using a accelerator value on comps that has thrown everything out of wack. | |
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Property taxes…oof!
