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Author
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Topic: Great Hill Country Tax Dodge
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starstruck
Member Posts: 588
From: Hays
Registered: Feb 2001
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posted August 21, 2007 08:16 PM
 
All this talk of cedar trees and development reminded me of a great, seldom spoken, scheme. We all hate the high property taxes hereabouts but with a little planning here's how to beat the system. Get yourself ten or twenty acres, chop out all or most of the trees and put in some livestock. Cows and horses used to be in vogue, then emus and llamas, but now goats, sheep and asses seem to be the rage. Anyhow add a couple of sheds for outbuildings then call the tax assessor. He comes out and takes a look at your asses and sees you are a rancher. Then wait around for a spell and you're property reverts to agricultural use and your real estate taxes are paltry. Then hang on, enjoy the lifestyle,and let that spread appreciate. In a few more years you sell out for the big bucks and retire happy in Costa Rica. It's a great scam, all you need is the grubstake and you're ready to roll.
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ramblinrose
Member Posts: 41
From: Wimberley
Registered: Mar 2004
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posted August 22, 2007 01:37 AM
Yeah, this does sound like a nice gig...however, if you go have a little talk with the appraisal district, you may discover a few glitches.
First...to qualify for the livestock variety of ag exemption, you must maintain a minimum of 3000 lbs of animal weight. In the hill country, it takes approximately 35 acres to sustain that amount of animal weight.
Secondly...one must present evidence of an actual agricultural venture, including a business-like sale/profit situation, to the appraisal district.
Thirdly...one must maintain this actual agricultural venture for 5 years BEFORE the exemption reduction kicks in.
Fourthly...if this venture should cease to continue being an actuality, at ANY time, one will be immediately liable for 5 years of back taxes at non ag exemption rates.
This was a sobering splash of cold water on my plan to reduce my taxes on 10 acres, to something less than what currently amounts to 20% of the purchase price (circa 2001) of my land each year. If you have another, more viable plan, I sure would like to hear it.
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PVPam
Member Posts: 115
From:
Registered: May 2006
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posted September 03, 2007 09:05 PM
Well, it looks like my miniature donkeys will always be just "yard art." I'll keep em anyway!
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Reddog
Member Posts: 396
From: dripping springs, tx, usa
Registered: Apr 2008
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posted April 22, 2008 08:13 AM
Agricultural use evaluation, or Wildlife management evaluation may lower your taxes now; but when the property is sold, or the use is changed, you are assessed the difference in the tax you paid and the market value tax,PLUS penalty & interest.
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