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Groups Rekindle Debate On Estate Taxes For Farmland Groups Rekindle Debate On Estate Taxes For Farmland Originally Appeared On : "bna.com" January 8, 2013 Lawmakers and groups trying to slow the loss of farmland to development have had little success changing the laws on the federal estate tax. But they are off to an early start in 2013 to try again—this time aiming to ride the congressional debate on comprehensive tax reform. Rep. Bishop launches the first related legislation, introducing a bill (H.R. 47) to exempt farms and conservation lands from estate taxes as long as they remain in those uses. Without an exemption, farms are more vulnerable to development because the law requires them to be valued at “highest and best use” for estate tax purposes, Bishop's spokesman tells BNA. The issue isn't new to agriculture; farm and conservation groups have complained for years that in areas with development pressures, a farm family's most realistic option is to sell the property in order to raise enough money to pay the estate tax—and to sell it for continued farming does not raise enough cash to meet the bills. But exempting farms specifically has not gained much traction on Capitol Hill.
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Buying and selling of agricultural land can be very complex. To help you tackle the issues surrounding agricultural land transactions, Farms.com Real Estate has compiled a list of experts in the areas of agricultural economics and land values.

University of Illinois

Department of Agricultural and Consumer Economics, Extension Specialist, Farm Management
Gary Schnitkey
schnitke@uiuc.edu

Department of Agricultural and Consumer Economics, Extension Specialist, Farm Management
Dale Lattz
d-lattz@uiuc.edu

Iowa State University

Michael Duffy
mduffy@iastate.edu
http://www.econ.iastate.edu/faculty/duffy/landnew.html

Kansas State University

Kevin Dhuyvetter
Professor and Extension Specialist, Farm Management
kcd@ksu.edu

Terry Kastens
Professor and Extension Specialist, Farm Management
tkastens@agecon.ksu.edu

Michigan State University

Stephen Harsh
Professor and Extension Specialist in Agricultural Economics
harsh@msu.edu

Eric Wittenberg
Outreach Specialist
wittenbe@msu.edu

University of Minnesota

Philip Raup
Professor Emeritus
praup@umn.edu

David Bau
Agricultural Business Management, Agricultural Business Management
bauxx003@umn.edu


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