Illinois farmers see changes in property tax assessments: Farmland taxes increasing on real estate bill

Illinois farmers are paying attention to assessed land value as they pay their 2016 property taxes because of a remedy to a disparity that hinged on soil quality.

In Illinois, calculating the value of cropland takes soil productivity into account. Central Illinois acreage with better soil is valued higher for tax purposes. Southern Illinois’ less productive acreage is valued lower. State law had held value changes to 10 percent per year. That meant the assessed value of lower quality soils was held artificially low.

A fix was enacted in 2013, limiting value changes to 10 percent of the state median cropland productivity value. The Southern newspaper in Carbondale  reports the change means values on lower quality soil will increase at a faster rate. Properties with better soil will increase at a slower rate.