![]() All property assessed back then was based on the market value. In the 60’s when urban areas in Texas were beginning to grow and expand outward, farmers found themselves in a difficult position. Just a bit of history might help you understand better. You must apply by the deadline and you must submit proof to show you qualify. But the appraisal office doesn’t just automatically assume a property qualifies for the Texas Ag Exemption. So you want your taxes based on agricultural value, not the market value. The assessed value of your property dictates the amount of tax you will owe. ![]() In general, the market value of any given property will assess for a higher amount than the agricultural value of the land. But how do they come up with the number that you owe each year? They figure out how much your property is worth and base it on that. The appraisal district is the name of the office in each county where you pay. Technically, it is a “county appraisal district assessment valuation.” That sounds confusing, so let’s take a closer look. But the common term is Ag Exemption, so we will stick with that.Īn Ag Exemption is really another way of valuing a property resulting in much lower taxes than a market valuation. ![]() The first thing to understand about an Ag Exemption is that it actually isn’t an exemption at all. This article explores the question, “What is a Texas Ag Exemption?” The Texas Ag Exemption is fairly complex. So what is it? And why is it important if you are buying horse properties, land or ranches in Texas? EXEMPTION OR ASSESSMENT VALUATION?
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