© 2024 Ideastream Public Media

1375 Euclid Avenue, Cleveland, Ohio 44115
(216) 916-6100 | (877) 399-3307

WKSU is a public media service licensed to Kent State University and operated by Ideastream Public Media.
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations
The Statehouse News Bureau provides educational, comprehensive coverage of legislation, elections, issues and other activities surrounding the Statehouse to Ohio's public radio and television stations.

Ohio Bill Makes It Easier To Keep Farms In The Family

[Shutterstock.com]

Ohio farmers who want to sell their property to a younger farmer in their family might soon get a tax incentive to do that. 

Ohio lawmakers are considering a bill that would give older farmers a tax incentive when they sell their farms to younger members of the family. The bill previously only allowed farmers to get the credit by selling to a younger farmer who is not a relative. But this provision has been added because many farms are actually passed down to younger family members.

Rep. Kyle Koehler (R-Springfield) says this bill will help make sure the land continues to be farmed instead of being developed it for another purpose.

“We need farmers to start farming land as young people. As older people retire, we want to see young people get involved. It’s expensive and we want to keep them in the process of being farmers in Ohio," Koehler says.

The tax credit is capped at $10 million over its lilfespan and the credit would end in 2025. 

The 2017 census showed the average age of an Ohio farmer is about 59 years old. 

Copyright 2019 The Statehouse News Bureau. To see more, visit The Statehouse News Bureau.

Tags