- North America is seeing an increasing number of "farm mega-homes," large estates built on agricultural land.
- Even if mansion owners are not farming on a large scale, some have the ability to receive hefty tax exemptions, a loophole that city councils are trying to regulate.
- The loss of agricultural land to housing development could have consequences in the future.
ADVERTISEMENT
Farm mega-homes are on the rise, and their owners may be benefitting from huge tax breaks
Vast swaths of farmland are being replaced by mansions in Canada and the United States, thanks to tax loopholes.
ADVERTISEMENT
Recommended articles
For perspective, this is what a 10,266-square-foot home, which has six bedrooms, 7 bathrooms, and two half-baths, looks like:
extensive tax breaks intended to support farming.
One
FOLLOW BUSINESS INSIDER AFRICA
ADVERTISEMENT
Recommended articles
U.S. officials admit President Biden’s strategy for Africa is predictably failing
Egypt gets back its 3,400 old antique from Switzerland
Top 10 African countries that offer the most opportunities for prosperity
Trusteeship is for everyone, including you
IMF drops suggestions for Nigeria’s currency recovery
Top 10 African countries with the highest military expenditure
10 wealthiest cities in Africa in 2024
First migrant flight to Rwanda from UK to depart in July - Sunak
