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October 2015

Found 1 blog entry for October 2015.

We have a lot of land under agricultural use in Central Texas.  People often ask us about how tax exemptions work, and the answer may be surprising.  Most of the “tax relief”  processes in place are not exemptions at all, but rather an adjustment to the way the land is valued for tax purposes.  The effect is the same, it lowers the property owners tax bill, but the way to get there is very specific. The Texas constitution permits certain kinds of agricultural land to be appraised for tax purposes at a productivity value, rather than a market value. This special appraisal value is based solely on the land’s capacity to produce agricultural products.

How is the Farm & Ranch exemption calculated?

Agricultural valuation on a property requires that

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