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<blockquote data-quote="BrokenBackJack" data-source="post: 290817" data-attributes="member: 642">OK here is what i received from our tax Director in Wells County this morning:Ok, some things are still the way they used to be, some things have changed.&nbsp;Outbuildings that are used for farm purposes are automatically exempt from taxation regardless of income as long as they are being used for farming purposes.&nbsp;For Farm Residence Exemptions there are a couple of things that have changed..&nbsp;Active Farmer: 67% or more of their GROSS income between them and their spouse have to be from farming purposes.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; A statement of gross income must be submitted to my office yearly proving the percentage of income.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Farmstead has to be at least 10 contiguous acres or own/rent the land around them if less than 10 acres.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; There is no $40,000 non farm income requirement anymore.&nbsp;Retired farmer: the farmer has to have been exempt on the property he/she resides as an active farmer and having retired to age or health&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; The surviving spouse of a retired farmer will remain exempt until he/she moves or passes away.&nbsp;Farm Laborer: the residence is intended as a farm residence and is used to house farm laborers.If the person residing in the house is qualified under the farm laborer category due to running the farm under a corporation, when that person retires the residence becomes taxable if they remain living in the residence.&nbsp;Surviving spouse: the surviving spouse of a farmer, who at the time of death was exempt as an ACTIVE farmer, will remain exempt for 5 years from the date of death. After 5 years,&nbsp; &nbsp; the property becomes taxable.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; Hope this helps!</blockquote>

[QUOTE="BrokenBackJack, post: 290817, member: 642"] [SIZE=3][B]OK here is what i received from our tax Director in Wells County this morning: Ok, some things are still the way they used to be, some things have changed. Outbuildings that are used for farm purposes are automatically exempt from taxation regardless of income as long as they are being used for farming purposes. For Farm Residence Exemptions there are a couple of things that have changed.. Active Farmer: 67% or more of their GROSS income between them and their spouse have to be from farming purposes. A statement of gross income must be submitted to my office yearly proving the percentage of income. Farmstead has to be at least 10 contiguous acres or own/rent the land around them if less than 10 acres. There is no $40,000 non farm income requirement anymore. Retired farmer: the farmer has to have been exempt on the property he/she resides as an active farmer and having retired to age or health The surviving spouse of a retired farmer will remain exempt until he/she moves or passes away. Farm Laborer: the residence is intended as a farm residence and is used to house farm laborers. If the person residing in the house is qualified under the farm laborer category due to running the farm under a corporation, when that person retires the residence becomes taxable if they remain living in the residence. Surviving spouse: the surviving spouse of a farmer, who at the time of death was exempt as an ACTIVE farmer, will remain exempt for 5 years from the date of death. After 5 years, the property becomes taxable. Hope this helps![/B][/SIZE] [/QUOTE]

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