News Desk

Preservation Tax Breaks Questioned


A Napa County grand jury has questioned millions of dollars in tax breaks that were doled out to preserve wine country farmland with little chance of being developed. Passed in 1965, California’s Williamson Act seeks to ease the financial challenges farmers face as their ag land is taxed as more valuable transitional or development land. In return for a commitment to farm their land for at least 10 years, landowners are taxed at a lower rate. According to county officials, Napa County’s $200 million general fund loses $1 million annually because of Williamson Act contracts for both vineyards and grazing land.
Click here to read more.

RELATED ARTICLES

Farmland

Cropland Values Hold Steady Nationwide

The Department of Agriculture’s National Agricultural Statistics Service …

News Desk

Section 1031 Exchanges at Risk

Powerful landowner tool ends up on the negotiating …

Print & Gift
Subscriptions Available
Please sign me up to receive breaking news and updates from The Land Report:
Copyright © Land Report LLC. All rights reserved.

Contact to Listing Owner

Captcha Code