Wisconsin farmers may be getting more for a bushel of corn these days but they're also seeing property taxes going up.
It's all part of the new formula Wisconsin put into place in 1995 where farmland assessment is based on use not on potential commercial or residential development.
Tom Thieding with the Farm Bureau Federation says the farm economy also figures in to the formula. So, when commodity prices are up along with the demand for rented farm land, property tax assessments also go up. This year they will jump six to eight percent.
But Thieding says they will also go down if the farm economy takes a dive. Thieding says farmers have saved so much on property taxes since the new formula was put in place, this year's hike probably won't hit most farmers too hard.
Thieding says property taxes are now a smaller part of production costs. And while those costs have gone up in other areas, it's still a sign of a strong farm economy.