Columbia Basin, Ephrata, WA | STOMN - 6/30/2020 05:37
Mixed feelings about this. Why should you not have to pay taxes on a “sale”? Doesn’t this just give money to spoiled kids that didn’t earn it? And add to the “free generation”. I would think it would bring land value down, less investor interest? But it does help transfer the farm to the next generation.
Land value will come down, but rents won’t. That will create tremendous investor interest, and ownership will shift away from farmers to the cities. It’s the next step toward the serfdom of rural people.
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I guess stepped up basis is considered a loophole
