Farmland sales brisk because of tax law changes

Ag/Outdoor, News

November 26th, 2012 by Ric Hanson

DENVER, Iowa (AP) — Farmland sales are happening at a brisk pace this fall partly because farmers are worried about the tax increases that may take effect January 1st if Congress can’t address the fiscal cliff. The worries about possible increases in capital gains and estate taxes are adding to the normally busy time for farmland sales after harvest in Iowa and Nebraska. Des Moines lawyer Bill Hannigan of the Davis Brown firm tells the Des Moines Register that anyone thinking of selling farmland should do so before the end of 2012.

Jim Hain, vice president of agricultural sales for Omaha-based Lund Company says his firm is the busiest it has been with farmland sales. He says the possible tax law changes and the current high prices have prompted more people to sell.