Land Acquistion/Succession Planning

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"I have a VA rating. Is there a grant to buy a farm?" No, there are no available grants to buy farmland, no matter the veteran status.

 

Can I use my VA Home Loan eligibility to buy a farm?  Possibly--several members of the PAVFN have done so.  Download the fact sheet.

 

Pennsylvania's Beginning Farmer Tax Credit permits an owner of agricultural assets to take a tax credit against tax due for the sale or rental of agricultural assets to a beginning farmer equal to 5% of the lesser of the sale price or the fair market value of the agricultural asset (up to $32,000), or 10% of the gross rental income in each of the first, second, and third years of a rental agreement (up to $7,000 per year).

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Beginning Farmer Realty Transfer Tax Exemption: Act 13 of 2019 states that realty transfer tax shall not be imposed upon a transfer of real estate that is subject to an agricultural conservation easement established under authority of the Act of June 30, 1981 (P.L. 128, No. 43), known as the “Agricultural Area Security Law,” to a qualified beginner farmer.

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Long-term leasing farmland: Case Studies and Lease Agreement Examples Download

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PA Farm Link hosts an online database of farmland for sale/lease and for sellers. They also host farm

succession trainings and have a mentorship program.

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