If you purchased Texas farm and ranch land in 2018, it is now time for you to file for your “open space” or “ag use” exemption. Over the past 15 years of working farm and ranch land transactions in and around Wharton, Colorado, Jackson, Matagorda, Lavaca and Fort Bend Counties, one common misconception buyers have
True story. Several years ago (when I was financing farm and ranch land), I had a customer that purchased farm land from his neighbor, (he previously leased it for many years)and he forgot to reapply for his agricultural exemption. He missed the deadline and was stuck with paying a signification property tax bill for that year. Point of the story? DON’T MISS THE DEADLINE!
When To File?
The deadline is before May 1.
What Properties Qualify?
Each county in Texas adopts specific agricultural use guidelines regarding minimum livestock stocking density, acreage per
For more details visit your County’s Central Appraisal District website. Here are the links for Wharton County:
What Happens if I Miss The Deadline?
You could be responsible to pay property taxes on the fair market value
Where Can I Go To Get More Information?
Start off by contacting the
Do You Have No Idea What an Open Space or Agricultural Use Tax Exemption Is?
If you are not familiar with agricultural tax exemptions and are looking to purchase farm and ranch land in Texas, start with the Texas Comptrollers website, the County’s Central Appraisal District where the property would be located, or the “Texas Agricultural Law Blog”
Do you have any