Eastern Iowa Farmer Fall 2021

Ag Bytes
“Because of the proposed increase in
rates, we estimate that, on average, a fulltime
farmer owning 358 acres of farmland
would see tax liability from a lifetime sale
increase from $475,248 to $860,572, an
81% increase, or from 14.5% to 26% of fair
market value,” said Kristine Tidgren, director
of Iowa State’s Center for Agricultural
Law and Taxation.
Tidgren authored the study with Wendong
Zhang, an associate professor of
economics at Iowa State’s Center for Agricultural
and Rural Development. Zhang
said that their study looked at 80% of Iowa’s
farmland owners, including those who
own land as sole owners, joint tenants,
tenants in common, and through a revocable
living trust. He said that they did not
study other owners that own farmland in
corporations, partnerships, life estates, or
irrevocable trusts that could face new tax
liability as well.
The impact of the AFP depends upon
farm size and appreciation.
The authors noted that 83% of farmland
owners would not be impacted by the proposed
tax solely because of their ownership
in farmland. This is largely because
most Iowa farmland owners own fewer
than 200 acres. However, ownership of
other assets could still make the proposed
tax affect those landowners.
For now, the authors said, the AFP is
only a proposal, and no current laws have
been changed. More specific proposals
were expected this fall.
Local farms earn
Century, Heritage
recognition from state
Several Eastern Iowa farm families were
honored with Century or Heritage Farm
designations at the Iowa State Fair last
summer. The program celebrates farms
that have been owned by the same families
for 100 and 150 years, respectively.
The Century Farm program began in
1976 as part of the nation’s Bicentennial
Celebration. To date, 20,541 Century
Farms and 1,566 Heritage Farms have
been recognized across the state of Iowa.
In Clinton County, Richard Dickman of
Lost Nation received both a Heritage and
Century Farm recognition for farms established
in 1870 and 1921 respectively.
Receiving Century Farm distinctions were
Garth and Anita DeWulf, Wheatland, 1921;
Kay (Schmidt) Harksen, Camanche, 1914;
and Henry and Tara Kramer, Clinton, 1919.
In Jackson County, Heritage Farm Awards
were given to Wanda Cornelius, Bellevue,
1871; and Felderman Family Farm, Bellevue,
1853. Receiving Century Farm distinc-
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