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Pro tip: label your LLC as a 'farm' in Iowa and watch what the county assessor does next
I filed my 4 acre hobby plot as agricultural land last spring to dodge the residential tax rate, and the assessor showed up in June demanding proof of $2,000 in actual farm income or they'd back-charge me 3 years at the higher rate, so has anyone beat that kind of clawback or do I just eat the $1,400 difference?
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