- 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.
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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.
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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.
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