Inheritance Tax Repeal Appeals to Farm Bureau Members

Members of the Starke County Farm Bureau attended the organization’s annual meeting this week and heard Director of State Government Relations, Bob Kraft, talk about legislative successes this year.

Kraft talked about the success in the repeal of the inheritance tax.

“Probably the most noteworthy was the passing of the Inheritance Tax repeal,” said Kraft. “This has been a priority of Farm Bureau for years and years. All of a sudden all of the chips fell where they needed to and the Inheritance Tax will be phased out beginning in 2013.”

Kraft said there is a second component of the repeal legislation.

“Just as significant, I think, is the amount of inheritance that can be inherited by the next generation that is exempt from the tax is being increased from $100,000 to a quarter of a million. This will really help farmers, small businessmen and other citizens in the State of Indiana to pass their wealth on to the next generation.”

In other business, the members voted on officers and heard several candidates for various offices speak on their reasons for seeking election, or reelection.

One item that was not presented to the membership was a draft of a letter that opposed on policy the Farm Bureau’s stand on referendums promoting the raising of property taxes for school or government projects. It is the state organization’s position that those projects should not be funded solely by property taxes. The letter specifically mentioned the Oregon-Davis School Referendum.

Brad Lawrence, President of the local organization, said yesterday that the letter was only a draft, and that the local organization will be seeking a “sit down” with Oregon-Davis school officials to explain the position of the state organization. Lawrence said the letter did not reflect the position of the local organization’s officers, stating that he and his wife personally support the Oregon-Davis school remaining open and viable.