1333 Columbia Park Trail, Suite 220    |    Richland, WA 99352    |   509.735.4444

509.735.4444

1333 Columbia Park Trail, Suite 220
Richland, WA 99352

Archive for May 2017

Valuing the Family Farm for Property Tax Purposes Part II

Photo of Farm Land emphasizing the importance of Washington farm tax planning

When the time comes to consider transitioning the family farm, there are some valuation rules which are worth considering. Washington property tax provides a tax savings for lands classified as a farm. The Washington and Federal estate tax regimes provide value reductions for farm property as well. The Federal estate tax may soon become a thing of the past due to President Trump’s recent tax reform proposal, but as of yet the tax is still in effect.

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