A policy priority for the Minnesota Soybean Growers Association passed during the recently completed legislative session.
President Bob Worth says the association has been seeking to raise the valuation limit of the Homestead Tax Credit for nearly three years.
“The Homestead Tax Credit has not kept up with the value of land. As the land goes up, the acres that we’ve got to use the Homestead Credit on shrunk considerably.”
Lawmakers agreed to increase the limit from $2.2 million to $3.5 million.
