We are close to signing contract on a 6acre section of land. This land is currently in ag exemption as it was a larger section. They took 30 acres and divided 5 sections into 6 acres. Will this property stay in ag if we stay in regulations with the current exemption? Also if it does not, would there be back taxes to pay for taking the property out of ag and whose liable for those taxes?
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In Brazoria county you can prove Ag for 5 out of the last 7 years, you're good.
I would assume that your property has been Ag for the past 5 years atleast, essentially gaining you 2 years to get in compliance or lose the exemption.
I would look into transferring the exemption status to yourself, claiming you'll do Bees or something that qualifies on small average.
Then I would look into transferring it to wildlife exemption.
You won't owe any back taxes that I'm aware of.
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The property we will be purchasing is on the far west side and is an end lot to the other four lotsand has three property lines currently fenced off. The realtor has offered to keep cattle on the property along with the other four lots as our east property line is not fenced and allows access to the remaining 24 acres.
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Originally posted by Drycreek3189 View PostCall your tax office, that's where you'll get your answer.
I could definitely do bees, I worked for my college room mates Dad in college who runs a fairly big operation.
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Originally posted by hunt247 View PostErath County you need to have min of 10 acres I believe.
I think most are a 10 but you better have 11 if you plan to build a house on it because they will figure 1 for the house as non ag and the rest ag. At least that is the way it has been explained to me.
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In Harris County, we just acquired 2 acres that was part of an 11 acre tract. It takes 7 acres in order to claim for ag (Harris County). Since mine isn't enough, I have to pay 5 years back taxes for what the property would've appraised for had been residential with the 5th year eligible to be up to 35% interest! Thankfully it didn't go that high but still cost $3K.
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Originally posted by mjhunter82 View PostIn Harris County, we just acquired 2 acres that was part of an 11 acre tract. It takes 7 acres in order to claim for ag (Harris County). Since mine isn't enough, I have to pay 5 years back taxes for what the property would've appraised for had been residential with the 5th year eligible to be up to 35% interest! Thankfully it didn't go that high but still cost $3K.
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