Byron Public Schools: Ag2School Tax Credit

Byron Public Schools: Ag2School Tax Credit


– It can be hard to sort the wheat from the chaff when it comes to school
funding in Minnesota. Things were simpler when the
first school was built in 1848. Since then, the state and
local communities like ours have worked together to find ways to build schools and update them when roofs, walls, and foundations hit the end of their useful lifespan. One of the jobs of our school board is to figure out the best way to build and maintain
facilities that are safe and meet the needs of our students. In rural communities, like ours, it’s primarily local property owners who pick up the tab for
building improvement projects. Sometimes it requires us to go to voters for a bond referendum. A bond is similar to a mortgage. Property taxes support
the payments on the bonds used to finance school construction. The amount of property tax you pay depends on the value of the land you own. For agricultural land owners, voting on a bond referendum
can mean choosing between your business
and your local schools. Sometimes that can be a difficult choice. However, thanks to the
Ag2School tax credit, agricultural land owners
are getting a break, a big break, and there’s
no additional tax impact to non-agricultural land owners. You see, with the Ag2School tax credit, the state of Minnesota
picks up much of the cost of the local bond referendum that applies to agricultural land. This tax credit is automatically placed on your assessed taxes for the year. No application, no
forms, no waiting period. The tax credit applies to most current and future building levies, including all voter-approved bonds, and will grow to 70% in 2023. And this applies to all agricultural land, except for your home, garage, and one acre of homesteaded land. The Ag2School tax credit is one way the state helps rural school districts so students have safe
and modern facilities that are helping prepare the
next generation of leaders. Visit our website to learn more.

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