Putting the land into agricultural production or following an approved wildlife management plan can significantly lower property taxes. In many cases, it also can support the ecology of the region.
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taxes
Steps to Take Before Buying Rural Property
What do you get when you combine high demand and low interest rates? A Texas land rush, according to Farm Credit lenders.
Tax Relief for Texas Landowners
Take advantage of ag-use valuations to lower your rural property taxes. If you own rural land in the Lone Star State, there are ways to reduce your property tax burden.
Agriculture & Wildlife Tax Appraisal in Texas
If you’re a Texas landowner, you’re in good company; 97 percent of our state is privately owned and managed. Accompanying the thrill of owning property in Texas, though, is that all-too-familiar sting of the state’s high property taxes, which begs the question—how can landowners maximize the use of their property?
Michal Ann Morrison for Fredericksburg Realty - March 26, 2020
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What You Need to Know About Taxes When Selling Your Land
Selling your land can feel like a daunting undertaking, especially when it comes to taxes. Here are some of the most important tax consequences and potential savings strategies to be aware of if you’re preparing to sell your property.
Everything You Need to Know About Conservation Easements
If you’re a landowner seeking to balance land use with conservation, and you want to make sure your vision for your property remains intact beyond your lifetime, consider setting up a conservation easement.
What the New Tax Law Means for Agriculture & Rural Landowners
The largest overhaul of the U.S. tax code in three decades went into effect this year, impacting farmers, ranchers and other rural landowners in a variety of ways. For the most part, financial experts anticipate benefits for these groups.
Year-End Tax Prep: 5 Tips for Landowners
As the year winds down, you’re probably already thinking about your New Year’s resolutions. If one of them is to keep better track of your finances, this is the time to look back at your records and prepare for tax season or a major purchase.
Tax Considerations When Making a Ranch Purchase
Written by Mary Jane Robinson, CPA The decision to own ranch property may be a lifelong dream. It can be related to changes that result in a slower paced lifestyle. The decision may be to have a second family home. No matter the driving force related to the “why” of a real property purchase, the […]
Texas Statewide Proposition 1 – Homestead Exemption
On November 4th, 2015, Texas’s Statewide Proposition 1 for homestead exemption passed with 86% of the vote. Thanks to strong support from Texas Association of Realtors, Prop 1 will increase the homestead exemption from $15,000 to $25,000. What this means for the average Texas homeowner is an extra $125 in savings per year from a […]
Habitat Management Practices for Wildlife Valuation
While agricultural tax valuation is fairly common, Texas landowners have a unique opportunity to qualify for wildlife management valuation.
Keep It In The Family
Oh, the excitement you feel the moment you purchase your first piece of land. You’re filled with plans for the place, whether they are to construct a pond or build your dream home. Perhaps you’re imagining ways to attract wildlife to the property or envisioning a custom-designed gate to welcome your future guests. While it’s […]
Section 1031 Is On The Tax Reform Table
There has been a lot of talk about the need to reform our huge and complicated tax code. Like most things in life, the tax code is neither all good nor all bad. As much as we hate taxes, we like many of the things they pay for, such as public schools, highways and national parks.
Understanding Section 1031 Tax Exchanges When Buying Land
Few long-term investments can match land for added income potential and enjoyment.
1-D-1 Valuation – Tax Breaks for Wildlife Habitat
Ruben Cantu and Greg Simons of Wildlife Consultants offer their expert advice on 1-d-1 valuations and implications for property and land owners’ taxes.
Understanding Rural Property Taxes in Texas
Expert advice regarding rural property taxes in Texas
