How Do Agricultural Exemptions Save Landowners Money?
Land Up Local Highlights
This is Texas and many land owners use their property for farming, ranching, or other agricultural purposes. But land owners don’t have to run a massive cattle ranch to benefit from agricultural tax exemptions. Explore Texas agricultural exemptions with us to learn how you can lower your taxes on your Texas land.
Transcription
In Texas, the property tax code allows you to obtain an agricultural exemption on your land as long as you're using that land for agricultural purposes. This is often referred to as an ag exemption. For example, you could have 75 acres of land and only pay $200 a year in taxes. Different counties have different rules on the minimum number of acres and the animals allowed to obtain an ag exemption.
Some landowners will use another strategy to get an ag exemption. This is called a shared ag exemption. The neighbors will go in and get an ag exemption for all of the properties involved. Make sure to check with your local county tax office for the minimum requirements of acres.
There is another way to save money related to livestock, and this is called a grazing lease. You can lease out your property for cattle grazing to cover the cost of your taxes.
Give us a call and we'd be happy to walk you through the requirements in your county to obtain an ag exemption.