WEST LAFAYETTE, Ind. (AP): A Purdue Extension agricultural economist says the repeal of Indiana’s inheritance tax should help farm families. Gerry Harrison says before the repeal that took effect Jan. 1, children or grandchildren were tax-exempt on an inheritance up to $250,000. Anything over that was subject to being taxed. A family friend had only a $100 exemption, and tax rates ranged from 10 to 20 percent. So three siblings who last year inherited farmland valued at $1 million from a friend faced an inheritance tax of about $100,000.