STATEHOUSE (Jan. 29, 2013) — The Indiana Senate today approved State Sen. John Waterman’s (R-Shelburn) legislation to prevent an estimated $57 million property tax increase on Indiana farmers. Senate Bill 319 passed the full Senate 48-0 and now moves to the House of Representatives for further consideration.

Waterman said his bill would delay, for an additional year, the implementation of new 2012 soil productivity factors used to assess farmland property taxes — meaning the soil productivity factors used for the March 1, 2011, assessment date will be used again for the March 1, 2013, assessment date.

“Without this bill, farmers across the state would see a significant increase in their property taxes this year, anywhere from 15 to 45 percent.” Waterman said. “That kind of increase would be incredibly damaging to the hard-working Hoosier farmers and families that fuel our state’s agriculture industry, especially following this summer’s record drought.”

SB 319 would also require the Department of Local Government Finance, with the Purdue University College of Agriculture, to submit a report on proposed soil productivity factors to the General Assembly for consideration by Nov. 1, 2013.

For more information on SB 319, click here.

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A high-resolution photo of Sen. Waterman is available in the Caucus Photo Gallery at http://www.in.gov/legislative/senate_republicans/2355.htm.