The Prince Edward Federation of Agriculture is looking for some major financial assistance when it comes to the skyrocketing assessment increases on farm land.
At this week’s Prince Edward County Council Meeting, Federation President John Thompson made a request to see residential taxes go up .4% to help keep the price of farm land stable.
His presentation pointed to the fact that the time it took residential taxes to go up 7%, farm land jumped 112%.
The province has capped the farm tax ratio of agricultural land at 25% of residential land.
Thompson says they would like to see that dropped in half.
Mayor Robert Quaiff says before 1998, farmers were paying the same taxes on their land, as residential owners.
He says by dropping the ratio from 25% in 2016 to 13% in 2020, it would keep farm contributions at 1.8% of The County’s overall tax revenue. If it does not change, that price would jump to 3.4% of tax revenue.
You can see the deputation by going to page 65 of the Council agenda. CLICK HERE TO GO TO AGENDA