You Don't Have to Walk it Alone
Real Estate Taxes:Â
One More Farm Stress
I married into a generational farm family over 40 years ago. So many wonderful family memories, lunch through the week, family dinner on Sundays. Family members working together and spending quality time together. Early on, it supported our families financially until it didn’t. Some of us needed to obtain work outside the farm yet still help when we could after hours. The ups and downs became more extreme and so many struggles developed. As the families grew so did the hardships. I lost a daughter in law to mental illness, and my world has not been the same. Blessed with friends and my involvement in mental and behavioral health, we move on. Good days and bad days but thankful for a support system that shares the ups and downs with me. So many people don’t talk about it and it is so lonely alone. There is hope. Others have walked this path with me, and I want to do the same for others. Find someone to walk it with you.
Input costs keep going higher and higher. Everything costs more. The price we receive for corn and beans does not keep up with inflation. Equipment, fuel, seed and fertilizer costs skyrocket. Our fixed costs trend up every year. Real Estate taxes and insurance are a must have. Super stressful when you cannot pay your real estate taxes on time. Name gets published on a list, then everyone knows you are financially struggling. In Illinois, home of the highest real estate taxes in the nation, you have 3 years to get them paid or a vulture company that preys on the misfortunate, will buy your land for back taxes and take control and ownership of your hard-earned land and there is nothing you can do about it. (if you let it go for 3 years). The earlier you start working on getting the taxes paid, the less stress you will have. Talk to your bankers, maybe sell something, even consider land sales to get the taxes paid under that 3-year deadline. I wish Illinois done something different. I have heard other states handle their real estate taxes differently.
75 Years - Will It Continue
We have a small farm. It has been in our family for 75 years. The equipment we have is not new and is always breaking down. Some things eventually wear out. New equipment is unaffordable and too big for what we do. I would like to keep farming, but it just does not pencil out anymore. Sometimes I wonder if it is my generation when the family farm stops? I don't want it to. I feel like I am letting the family down if I decide to stop farming. Stressful to think about. I am planning on attending some meetings about other options and things to grow and raise to hopefully find something that will let the farm continue.
Tell Your Story
Every person has a story worth telling.
Â
Whether you're a farmer, farm family member, neighbor, or friend, your experiences may give someone else hope, encouragement, or the courage to ask for help. Share as much or as little as you'd like. Whether you choose to share anonymously or include your name, every story is welcome.
