By: Chris Zoller, Extension Educator, ANR
Over the years I have met with many farm families in barns, fields and around kitchen tables to discuss succession planning and all that it involves. These can sometimes be very stressful, difficult and emotional visits. Some families put off these discussions because the topic is one that many don’t like to consider. However, planning and preparation will be beneficial to all family members involved in the farm business.
Faculty at Penn State University, California State University and Old Dominion University published in the Journal of Extension the findings of a study they conducted of Pennsylvania farm families on the topic of farm succession planning. Below is a summary of the research findings.
In addition to growing... Read More »
In 1980 Doug Southgate, Cam Thraen and Carl Zulauf each started academic careers as Assistant Professors in OSU’s Department of Agricultural Economics and Rural Sociology. Thirty-five years later, each is retiring from OSU’s Department of Agricultural, Environmental and Development Economics (AEDE), leaving remarkable individual legacies in teaching, research and public engagement. Readers of this website (and previous off-line versions) will be no stranger to the work of Cam Thraen and Carl Zulauf, who are both frequent contributors to this forum, while former students of OSU and other institutions of higher education may have relied upon one or more of Doug Southgate’s books in the classroom.
The co-author of six books, Dr. Doug Southgate has influenced many students through his contributions to classroom favorites including the The World Food Economy and Agricultural Economics and Agribusiness, while engaging more genera... Read More »
By Larry R. Gearhardt, Assistant Professor and Field Specialist, Taxation
Owners of Agricultural land enrolled in the Current Agricultural Use Valuation (CAUV) property tax program in the twenty-four counties that are experiencing a reappraisal or triennial update in 2015 (payable in 2016) will see the highest CAUV values in history, based on preliminary numbers from the Ohio Department of Taxation. Similar to prior years, increases in values will be in the vicinity of 100% to 200%. However, lower crop prices and changes made to the CAUV formula by the Ohio Department of Taxation point to lower CAUV values in the future.
WHAT IS CAUV?
In 1972, Ohio voters approved a constitutional amendment that allowed qualified agricultural land to be valued at its current agricultural use value for real property tax purposes rather than fair market value. The home, home site and outbuildings are still valued at fair market valu... Read More »
Farmers Have Until April 7 to Update Yields, Reallocate Base Acres, and Make Final Selections
WASHINGTON, March 27, 2015 – Agriculture Secretary Tom Vilsack today provided farm owners and producers one additional week, until April 7, 2015, to choose between Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC), the safety-net programs established by the 2014 Farm Bill. The final day to update yield history or reallocate base acres also will be April 7, 2015.
"This is an important decision for producers because these programs help farmers and ranchers protect their operations from unexpected changes in the marketplace," said Vilsack. "Nearly 98 percent of owners have already updated their yield and base acres, and 90 percent of producers have enrolled in ARC or PLC. These numbers are strong, and continue to rise. This additional ... Read More »
Farmers Now Have Until March 31 to Update Yields and Reallocate Base Acres; Deadline for Choosing Between ARC and PLC also Remains March 31WASHINGTON, Feb. 27, 2015 — Agriculture Secretary Tom Vilsack announced today that a one-time extension will be provided to producers for the new safety-net programs established by the 2014 Farm Bill, known as Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC). The final day to update yield history or reallocate base acres has been extended one additional month, from Feb. 27, 2015 until March 31, 2015. The final day for farm owners and producers to choose ARC or PLC coverage also remains March 31, 2015.
"This is an important decision for producers, because these programs provide financial protection against unexpected changes in the marketplace. Producers are working to make the best decision they can. And we're working to ensure that they've got the time, the information, and t... Read More »
When 4-H’ers across the county pledge their ‘heads to clearer thinking,’ they may not realize that recent research suggests this venerable yet adaptive youth development organization may be delivering much more than mental clarity. A study using data collected over five academic years from Florida students in grades 3 through 10 reveals that standardized test scores in math and reading are higher in school districts, grades and years that saw more 4-H participation. The research was conducted by Alfonso Flores-Lagunes of the State University of New York – Binghamton and Troy Timko of the University of Miami conducted the research, and appears online in the American Journal of Agricultural Economics.
The magnitude of the effect of 4-H participation on test scores was similar to the effects seen from reducing class size and other well-known approaches to enhancing student test scores. Analysis of the data further suggests t... Read More »
What does it take to successfully pass on the farm business to the next generation? It takes a lot of hard work, time and communication and not every farm business succeeds in making the transition. OSU Extension, Wayne County has scheduled a two part farm transition and succession workshop for Wednesday March11 and Wednesday March 18. Both days will be held at Fisher Auditorium, 1680 Madison Ave on the OARDC campus in Wooster. Each day will start at 10:00 am and conclude around 3:00 pm.
The workshop is structured to help farm families develop a transition plan for the future, discover ways to increase family communication, and learn necessary strategies to successfully transfer management skills and the farm’s business assets from one generation to the next. This workshop will challenge farm families to actively plan for the future of the farm business. Participants will be expected to do some work and hold some necessar... Read More »
Information presented above and where trade names are used, they are supplied with the understanding that no discrimination is intended and no endorsement by Ohio State University Extension is implied.
Ohio State University Extension embraces human diversity and is committed to ensuring that all research and related educational programs are available to clientele on a nondiscriminatory basis without regard to race, color, religion, sex, age, national origin, sexual orientation, gender identity or expression, disability, or veteran status. This statement is in accordance with United States Civil Rights Laws and the USDA.
Keith L. Smith, Ph.D., Associate Vice President for Agricultural Administration and Director, Ohio State University Extension TDD No. 800-589-8292 ( Ohio only) or 614-292-1868