Yes, but land is valued at it's highest & best use. 200 acres in say, New Jersey, is worth a hell of a lot more as housing than farmland. Add it to the fact that small farmer Jones on 200 acres ain't rich enough to pay estate taxes and even paying interest only for 5 years and then interest and taxes for the next 10, if he qualifies under the small business > 35% exception, will still in many cases force sales of businesses, or force them to go into debt they may not be able to repay. (Whew, I wrote that like a lawyer!)