House passes tax exemption bill for farms
The Alaska House has passed a bill that would offer tax breaks for farmers.
HB40 would allow municipalities to issue tax exemptions to those who own or lease structures used for “farming activity,” as specified by the bill. To be eligible for an exemption, an individual must use at least half the area of their structure for farming. A person must also accrue 10 percent of their yearly gross income through farming activity.
The vote was 30-3.
As of 2011, Alaska was home to 680 farms, the fewest number of farms of any state, according to the U.S. Department of Agriculture’s Rural Development program.
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