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Increased Farm Values Leads To Increased Taxes

The surge in farmland prices over the last half decade has led to some big jumps in taxes.

The updated values from MPAC show an increase of 16 per cent on average across the province since assessments were last mailed out four years ago.

MPAC's Vice-President and Chief Operating Officer Rose McLean says all categories of agricultural land have increased.

She adds farm values are based on sales of farmland to farmers. Sales for farmland to be used for other purposes are not included.

Huron County land increased anywhere from 14-25 per cent.

Farmland in Grey went up by 5 points in the northeast and jumped as much as 21 per cent in the southern part of the county.

Some farms in Bruce County escalated by as much as 28 per cent over the last four years while values in Wellington County were mostly up between 11 and 18 per cent.

Perth County land continues to sizzle. Farm assessments were up between 17 and 27 per cent.

Meanwhile residential values there increased by an average of 2.2 per cent since the last assessments were mailed out.

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