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-2- <br /> <br /> 2t The program is very flexible, offering many options that are chosen voluntarily <br /> (not required) by farmers, local citizens and local elected officials. <br /> <br /> Weak points: <br /> 3. Since the Wisconsin program is based on income tax and market value assessment, <br /> and not on agricultural value assessment, farmland adjacent to or in urban <br /> areas may not get much of a tax credit due to the high value of land created <br /> by the urban influence. <br /> <br /> 4. Due to a maximum income limit, most large family farm corporations would not <br /> qualify for any tax credit. <br /> <br />After Mr. Janke's presentation, the subcommittee broke into work groups (10:05 to 12:05), <br />after which each work group presented a summary of their discussion. <br /> <br />The next meeting will be July 21, 1978 from 9:00 a.m. to 12:00 noon at the Metropolitan <br />Council offices. <br /> <br />The meeting was adjourned at 12:15 p.m. <br /> <br />JO:tv <br />7.17.78 <br />attachment <br /> <br /> <br />