Land valuations will not change as bill fails by Jaimi Reimer Agricultural land valuations will not be changing anytime soon due to the failure of a bill Feb. 26.
The Senate State Affairs committee deferred HB 1159 to the 41st legislative day.
The bill would have allowed counties to collect cash rent information for determining the value of ag land based on cash rent values.
The bill also would have repealed a provision allowing ag land sold for over 150 percent of its assessed value to be classified as non-ag land for tax valuation purposes.
�Cash rent is determined by the farmer and comes as close to the income value of the property you can get,� said Rep. Al Waltman, D-Aberdeen.
Sen. Harold Halverson, R-Twin Brooks, said his area has experienced a bidding war for cash rent. �It could be so skewed out of proportion in our area,� he said.
�The system we currently have is working and working properly,� said Dick Calamine, Minnehaha County Director of Equalization.
The bill was introduced by Rep. Waltman and Sen. Dennert.