AG2SCHOOL TAX CREDIT
AG2SCHOOL TAX CREDIT
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Do You Own Agricultural Land?
Do You Own Agricultural Land?
If you own agricultural land, the State of Minnesota would pay for a large portion of the total Referendum project through the Ag2School Tax Credit program.
Watch the Video!
Watch the Video!
Learn how the Ag2School Tax Credit program works and how it would reduce the tax impact of agricultural property owners, as well as benefit the District.
The Ag2School Tax Credit would pay for $16,215,000 of the total bond amount for construction of a new PK-12 school. That equates to over 43% of the project’s total cost!
The Ag2School Tax Credit is an automatic 70% property tax credit for owners of agricultural land. (It does not include the house, garage, and one acre surrounding the agricultural homestead.)
This tax credit program is not a tax deduction – it is an automatic dollar-for-dollar credit with no application required.
Who Can Participate?
Who Can Participate?
The Ag2School tax program offers a 70% tax credit to all agricultural property owners including:
2a (homestead and non-homestead, agricultural land)
2b (rural vacant land)
2c (managed forest land) property except for the dwelling value of the property
What is Dwelling Value?
What is Dwelling Value?
The home, garage, and surrounding 1 acre of land is NOT eligible for the Ag2School Tax Credit and is taxed the same as a residential home.
Estimated Tax Impact
Estimated Tax Impact
Estimated tax impact provided by District financial consultant R.W. Baird.
Potential Bond Payment
Potential Bond Payment
Ag2School Informational Flyer
Ag2School Informational Flyer
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