Blanco County Wants to Repeal Estate Tax, or At Least Keep It at Current Rates

Blanco County landowners who want to leave property to heirs could have problems if the exemption goes back down to $1 million taxed at a 55% rate. They would like to see the estate tax repealed altogether, but at least the current $5 million exemption at a 35% tax rate is more manageable. Landowners in Blanco County point out how much it costs to maintain a successful farming and ranching operation. They are concerned that reverting back to the old exemption and tax rate could affect the supply of food and fiber for Americans.

See Blanco County Farm Bureau Calls for ‘Death Tax’ Burial, Estate of Denial, May 19, 2012.