A few Texas Longhorn cattle may be all you need to meet the requirements for an Ag Exemption and the benefits that the Texas Tax code offers.
This BLOG is specific to Texas landowners! However, your State may have a similar Tax Code
Owning acreage is a popular dream. If you are lucky enough to live this dream, it is often all that you thought it would be, except the part where you pay your property tax!
1. As you may know, some land in Texas qualifies for special methods of valuation that in turn constitute tax deductions.
2. Even if you are not a full time farmer and your primary income is not a result of your agricultural efforts, your rural land may qualify to be assessed using an “Open-Space Appraisal“ method.
3. Because Open Space Appraisals aim to promote the preservation of open land in Texas, the terminology to qualify revolves around Agricultural Use .
4. The definition of Agricultural Use includes Raising or keeping LIVESTOCK. It is our opinion that Raising Longhorns is not only one of the easiest options in this regard, but it’s rewarding too.
5. Although there are different acreage requirements between counties, there are specific State requirements that your land must fulfill to qualify. Some of these are:
a) land must currently be devoted principally to agricultural use.
b) it must have been devoted principally to agricultural use for 5 of the last 7 years,
c) this land must be used to the degree of intensity generally accepted in your surrounding area.
d) As the owner, you must file an application with the Chief Appraisal office before May 1.
If you own acreage and you don’t own Longhorn cattle YET, consider discussing the benefits with your accountant. Visit our Website for more information regarding the ease of keeping and raising these magnificent longhorn animals.
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Each one of our Longhorn cattle brings something special to the herd. As a community they are fascinating. We learn more about them everyday. We never imagined how much joy they would bring into our lives. We also enjoy hearing from you. Let us know what you think of our blog and if you are also lucky enough to have cattle, do they behave similarly/differently or in ways that stand out?
Thank you for reading our blog. We look forward to hearing from you either via email Cathy@GVRlonghorns.com or on Facebook @GVRlonghorns
Disclaimer: The material noted above is based on our hands- on experience as farmers, as well as our observations of our own cattle over the years. We have done and continue to do extensive research in order to maintain our herd‘s optimum health and in order to best manage Green Valley Ranch. We respect our animals and would not approach cattle we do not know. All opinions and statements made on our website are meant as guidelines only. We are not trained specialists in animal behavior, nor are we qualified veterinarians or accountants and we urge you to consult a specialist with your concerns.
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