Forums Discussions
-
Discussions tagged with 'Bee Hive'
-
Do you get a property tax reduction if you have been hives on your property in Wisconsin or Illinois? In Wisconsin, beekeeping can lead to significant tax savings, though “tax exemption” often refers to sales tax on equipment rather than a total exemption from property taxes. For land, beekeeping is categorized as an agricultural activity that qualifies property for use-value assessment, which can reduce the taxable value of the land by 90% to 98% compared to its market value.
1, (https://www.jackasshoneyfarms.com/bee-tax-exemption),
2 (https://beeexemption.com/),
3 (https://www.salesandusetax.com/wisconsin-sales-tax-exemption-manufacturing),
4 (https://www.wpr.org/agriculture/help-wisconsin-bees-lawmakers-look-make-beekeeping-cheaper)
Property Tax Benefits
Beekeeping allows land to be classified as “agricultural land” for property tax purposes, meaning it is taxed based on its income-producing potential rather than its fair market value.
1 (https://www.jackasshoneyfarms.com/bee-tax-exemption)
2Tax Reduction: This classification typically reduces the property’s taxable land value by 90% to 98%, often resulting in annual savings of $2,000 to $8,000+ for qualifying landowners.
Hive Requirements: While some counties vary, standard guidance suggests a minimum of 50 hives to qualify for commercial agricultural status, though some programs work with as few as 6 hives for specialized valuations.
Land Requirements: Minimum acreage varies by county and specific program, but owners with 5 to 20 acres of rural land are often primary candidates for these agricultural valuations.
2 (https://jcshoneybees.com/ag-exemptions/),
3 (https://www.beesource.com/threads/property-tax-agricultural-exemption-for-bees.227764/page-2)
4 (https://beeexemption.com/), 5 (https://www.jackasshoneyfarms.com/bee-tax-exemption)]
Sales and Use Tax Exemptions
Beekeepers in Wisconsin are eligible for a 100% sales tax exemption on specific items used exclusively for beekeeping.
1 (https://www.wpr.org/agriculture/help-wisconsin-bees-lawmakers-look-make-beekeeping-cheaper),
2 (https://docs.legis.wisconsin.gov/document/administrativecode/Tax%2011.12(4)(b)6.c.)
Exempt Items: This includes bees, beehives, bee combs, and drugs for bees. It also covers electricity and fuel used directly in beekeeping operations.
Qualifications: Historically, this required having 50 or more hives, but legislative updates have aimed to expand this to any beekeeper regardless of size.
Documentation: To claim this, you must use a Wisconsin Sales and Use Tax Exemption Certificate
1 (https://www.wpr.org/agriculture/help-wisconsin-bees-lawmakers-look-make-beekeeping-cheaper),
2 (https://www.billtrack50.com/billdetail/872660), 3 (https://www.wpr.org/agriculture/help-wisconsin-bees-lawmakers-look-make-beekeeping-cheaper),
4 (https://www.revenue.wi.gov/dorforms/s-211f.pdf)
Farmland Preservation Credits
If your land is in a certified farmland preservation zoning district, you may qualify for additional income tax credits:
1 (https://datcp.wi.gov/Pages/Programs_Services/FPTaxCredits.aspx),
2 (https://datcp.wi.gov/Pages/Programs_Services/FPTaxCredits.aspx),
3 (https://ruralwi.com/resources/wi-farmland-preservation-tax-credits/)
$10.00/acre for land in an area zoned for farmland preservation.
$12.50/acre for land in both a preservation zone and an agricultural enterprise area with a signed agreement.
Credit Level: The actual credit is 100% of the potential amount if the land is covered by both local zoning and a county
-
This discussion was modified 1 week ago by
Gustan Cho.
View Last Reply:
replied 1 week ago
| Participants: 5 Members
|
4 Replies
-
This discussion was modified 1 week ago by
