Eligible landowners may claim farmland preservation tax credits. The amount of the tax credit depends upon how a landowner participates in the program.?
The following requirements must be met to claim the farmland preservation tax credit under FC or FC-A:
- The landowner must have been the owner of the farmland for the year in which the credit is claimed. The landowner need not be the farm operator and may rent the land to a farmer.
- The landowner must have been a resident of Wisconsin for the entire taxable year.
- The landowner may not have claimed homestead credit or veterans and surviving spouses property tax credit for that year.
- The farm must meet applicable state soil and water conservation standards. For exact requirements, contact the county land conservation department in which the land is located.
- The land produced $6,000 in gross farm revenue in the preceding year or $18,000 in gross farm revenue during the preceding three years. If a landowner rents the farmland, the landowner may claim on that land provided the renter meets the gross farm revenue requirement.
Contact Wisconsin Farmland Preservation Tax Credits
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