Rural Property Tax Delinquency and Recession in Agriculture

James Conrad and Larry DeBoer ()

American Journal of Agricultural Economics, 1988, vol. 70, issue 3, 553-559

Abstract: Agricultural recession causes the property tax delinquency rate to increase in rural counties. The annual volume of unpaid property taxes as a percent of the tax levy is regressed on the farm debt-asset ratio, farm and nonfarm income, and the ratio of the interest rate to the delinquency penalty rate. Data from thirteen agriculturally-dependent Indiana counties are used. Increases in the debt-asset ratio and decreases in farm and nonfarm income are found to increase delinquency. Delinquency is also used as a source of capital when interest rates exceed the penalty rate.

Date: 1988
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