Why are CAUV values increasing?

COLUMBUS, Ohio (OFBF) - Some rural landowners whose property is taxed through Current Agricultural Use Valuation (CAUV) program have been shocked to see increases in their 2008 rates.

CAUV allows land to be taxed based on its agricultural value, rather than fair market value, with its formula based on land value on cropping patterns, crop prices, crop yield, non-land production costs and a capitalization rate.

According to Ohio Farm Bureau Federation (OFBF) Senior Director of Local Affairs Larry Gearhardt, there are legitimate reasons behind the increase in CAUV values, with the main reason being that crop yield data hasnt been updated since 1984.

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