Annual Cost per Cow

Backgrounding & feeding questions.
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Re: Annual Cost per Cow

Post by Silver » Thu Jan 31, 2019 9:28 am

I guess none of us owns anything. Try not paying any income tax for awhile and you'll find they can start selling everything you thought you owned until your debt is settled. And if that doesn't settle it they will garnishee your future income.



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Re: Annual Cost per Cow

Post by Bright Raven » Thu Jan 31, 2019 9:34 am

Bigfoot wrote:
Thu Jan 31, 2019 9:20 am
Bright Raven wrote:
Thu Jan 31, 2019 9:02 am
In Kentucky, they can not have a Tax Sale of a primary residence and the property on the deed that goes with the primary residence.

For example, I reside in a house on my 80 acre farm. According to what I understand, they cannot take it for failure to pay my annual property taxes. Here is the scenario:

If I stop paying property tax, the county refers my land over to a contract attorney for forfeiture and public auction on the Courthouse steps in a Tax Sale. I can stop the process by declaring my property my "sole and only primary residence".

That stops any further confiscation proceedings. However, an annual lien will be placed against my property to be collected after my death, the sale of the property, or moving to another place of primary residence such as a nursing home.
I have heard my whole life, that if someone pays your property taxes for 7 years uncontested, the property is theirs. I don't know that is true. I do know we have a couple of people in our county, that pay a whole bunch of peoples taxes, when they are late. You then owe the money to them, with a bunch of interst.
The county has the option on how to handle delinquent property taxes. In Robertson county, the county sells the rights to "collection" on delinquent property taxes to the highest bidder. Always a law firm. Then the law firm conducts the proceedings at no cost to Robertson County. They get to feast on what they make but they must abide in Kentucky statute. Thus, no one here gets the opportunity to pay someone's delinquent property tax.

About 5 years ago, as the state legislature became more and more conservative, there was talk (my brother was County Judge Executive of Pendleton County so got this from him) that a bill was going to be pursued to greatly curtail forecloses. The counties screamed bloody murder.
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Re: Annual Cost per Cow

Post by Lucky » Thu Jan 31, 2019 9:35 am

Several years ago the man down the road moved and left his place vacant, it wasn’t much 5 acres a barn and old house. He called me out of the blue one day and ask if I’d buy it from him and said he wasn’t moving back to the area. I told him I’d take it. At closing 2/3rds of his money went to back taxes. This really surprised me as he hadn’t said anything about it. Judging by what his tax bill was I’d say he hadn’t paid them in 5 yrs or more. I believe BR is correct they cannot kick you out of your home. Texas has a 200 acre homestead law. As Bigfoot says we have the 7 yr law here also but it’s shady on how it works. I own about 2 acres that shows to belong to my neighbor on one map and to not even be there on another map. My neighbor says it’s always gone with this place and county says it’s always been taxed to my place so it’s mine.

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Re: Annual Cost per Cow

Post by Caustic Burno » Thu Jan 31, 2019 11:44 am

That is partially true on 200 acres being a homestead in Texas.
Texas places no valuation limits only acreage.
That only applies to a rural family homestead.
If your single it falls to 100 acres if ruled urban it falls to 10 acres.

The urban ruling is the fly in the ontiment.

Ten years ago you couldn’t see another light off my front porch at night.
Today you can see five nightlights at 250k plus homes. My rural has turned urban in ten years.
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Re: Annual Cost per Cow

Post by Caustic Burno » Thu Jan 31, 2019 12:16 pm

Silver wrote:
Thu Jan 31, 2019 9:28 am
I guess none of us owns anything. Try not paying any income tax for awhile and you'll find they can start selling everything you thought you owned until your debt is settled. And if that doesn't settle it they will garnishee your future income.
+1
Just think most Americans have 500 dollars or less in savings.
The financial management philosophy over the last 50 years has drastically changed.
“The Texas Property Code protects your homestead from a forced sale to satisfy creditors such as payday lenders and debt collectors. However, your homestead is NOT protected from foreclosure for certain debts, including: unpaid property taxes; ... unpaid federal income taxes (IRS liens);”
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Re: Annual Cost per Cow

Post by Brookhill Angus » Thu Jan 31, 2019 4:42 pm

Blackstone, a major private equity fund owns property around the U.S. far and wide, purchased in foreclosure. The people who lost their properties are now the same ones renting them back. Sheer insanity for the renter, sheer genius for Blackstone.

If you love big money, and Wall Street, you will be amazed at how they are transforming real estate in America. The screwing has only just begun.

There is going to be some "swamp draining" and it's going to be for the purpose of condemnation lawsuits and seizing property. Just think about how that term "SEIZE" sounds! The very people that think they have friends in D.C. will find that money is thicker than blood. If you think the 2008 real estate crash was impressive, then what's coming will make that look like a trailer to the real movie.

Here is just a taste of what's to come. My advice, hold onto what you have with a tight grip. Be smart folks, and saavy, because this is capitalism at it's finest hour, and Wall Street is going to look like a T-Rex in the movie Jurassic Park when the recession hits.

https://theintercept.com/2018/10/12/pro ... ll-street/
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Re: Annual Cost per Cow

Post by Lucky » Thu Jan 31, 2019 5:08 pm

Caustic Burno wrote:
Wed Jan 30, 2019 11:53 pm
Has nothing to do with gloom and doom but reality.

Again if you really believe you own that land stop paying the taxes on it.
I understand why your scared, it has never hit you that your a renter.
Bet you kinda looked like you were hit in the face with a wet possum when you realize you really don’t own it.
Land is the only possession the government will literally boot you and yours out of the house for non payment. Miss a year of taxes and just watch the loan shark interest rates applied to the land you own.
I see it auctioned off every year for nonpayment on taxes.
.

Well gosh dangit CB I went and paid my property taxes today. I know it’s the last day but I try to make them wait. If I leave the house out I’m at $10 a head in property taxes. I own or as you say “rent from the state” all the land I run cattle on. I was actually surprised I thought the taxes were more. I should keep up with that stuff better but rather than focus on things I can’t change I choose to focus on things I can change and make better.
While we’re on cost of cattle I’ve got a serious question for you. Several years ago I had a 500 acre lease place about 15 miles from my house. After about 1.5 years I wore the frontend out on my pickup checking cattle on that rough place. It also had several really big creeks so I spent allot of time driving around county roads to check cows. I decided to buy an ATV to keep over there and ended up giving $7,000 for a new one. Just by chance we had a really bad winter that year but I was able to save probably 8-10 calves that would have otherwise died if I hadn’t had the ATV. The way I see it the ATV paid for itself that winter. How would you look at that scenario? I’m still using the ATV not very often but used it today to Dr a couple calves.

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Re: Annual Cost per Cow

Post by Caustic Burno » Thu Jan 31, 2019 5:56 pm

Mine is higher closer to 30 dollars a head. I downsized by 70% in the 11 drought. I was already heading in that direction due to health issues. The drought just sped up the process.
Other inputs were greatly reduced hay,fertilizer, supplement feed along with maintenance cost.
Selling out the hay equipment as well a tractor reduced a lot of time and money.
I had went past the sweet spot years ago, my profit margins would have been better operating at 60% stocking rate.
Running at 60% I could stand the weather extremes much better.
I had always kept a years worth of hay in reserve that wasn’t enough in 11.
I had to look at the destruction of the pasture and future health .
I am a grass farmer converting it to cash with a bovine.
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Re: Annual Cost per Cow

Post by Lucky » Thu Jan 31, 2019 6:52 pm

I’m with you on the droughts. ‘11 was bad but I scraped by and actually was able to salvage the season with a calf crop off a group of cows that I just decided to let survive on what they could find. This past summer put me to the test though. It’s going to take years to recover. Both grass and $$ wise. Oh well it’s what we do I guess just take the good with the bad.

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Re: Annual Cost per Cow

Post by Caustic Burno » Thu Jan 31, 2019 7:03 pm

Brookhill Angus wrote:
Thu Jan 31, 2019 4:42 pm
Blackstone, a major private equity fund owns property around the U.S. far and wide, purchased in foreclosure. The people who lost their properties are now the same ones renting them back. Sheer insanity for the renter, sheer genius for Blackstone.

If you love big money, and Wall Street, you will be amazed at how they are transforming real estate in America. The screwing has only just begun.

There is going to be some "swamp draining" and it's going to be for the purpose of condemnation lawsuits and seizing property. Just think about how that term "SEIZE" sounds! The very people that think they have friends in D.C. will find that money is thicker than blood. If you think the 2008 real estate crash was impressive, then what's coming will make that look like a trailer to the real movie.

Here is just a taste of what's to come. My advice, hold onto what you have with a tight grip. Be smart folks, and saavy, because this is capitalism at it's finest hour, and Wall Street is going to look like a T-Rex in the movie Jurassic Park when the recession hits.

https://theintercept.com/2018/10/12/pro ... ll-street/

You have to be ever vigilant.
Several years ago people started showing up to mom and dads old place.
I converted it to my man cave.
It adjourns my property , they said it was up for auction for delinquent taxes.
I had all the paid tax receipts back into the 1950’s. Some yahoo at the tax office put the wrong tract up for auction. When I went to the tax office with the receipts, they told me there was nothing they could do. Some law firm out of Houston was handling the sale.
I had to hire a lawyer to file an injunction to stop the auction and sale.
Needless to say the county didn’t reimburse me one penny.

I have no clue how nasty that would have gotten had they actually auctioned it off.
Money doesn’t buy happiness, but the lack does buy misery.

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Re: Annual Cost per Cow

Post by Midtenn » Thu Jan 31, 2019 9:16 pm

Caustic Burno wrote:
Wed Jan 30, 2019 10:35 pm
Midtenn wrote:
Wed Jan 30, 2019 10:23 pm
Can you give me an example of what you think would be an investment?

Something that is paying me dividends while gaining without cost. That I can liquidate today for train ticket cash.
Every thing else is a liability requiring upkeep.

https://www.morningstar.com/funds/XNAS/ ... quote.html
Investment : noun , the action or process of investing money for material profit or result

We dont agree on land investment but it sounds like everyone on here is willing to count taxes in the cow cost. So lets get back on subject of annual cow cost.

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Re: Annual Cost per Cow

Post by TexasBred » Fri Feb 01, 2019 6:00 pm

Caustic Burno wrote:
Wed Jan 30, 2019 10:35 pm
Midtenn wrote:
Wed Jan 30, 2019 10:23 pm
Can you give me an example of what you think would be an investment?

Something that is paying me dividends while gaining without cost. That I can liquidate today for train ticket cash.
Every thing else is a liability requiring upkeep.

https://www.morningstar.com/funds/XNAS/ ... quote.html
You really think that's your money?? If it's tax deferred fail to pay the taxes on it when it's withdrawn by you or your heirs. Your neighbors will laugh at your lack of financial genius. Oh and don't forget to figure inflation into that yield. Investing has unseen expenses. Of course it's not real expense is it CB?? Is it 2019 dollars or 1995 dollars. Start Googling.
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Re: Annual Cost per Cow

Post by TexasBred » Fri Feb 01, 2019 6:06 pm

Brookhill Angus wrote:
Thu Jan 31, 2019 4:42 pm
Blackstone, a major private equity fund owns property around the U.S. far and wide, purchased in foreclosure. The people who lost their properties are now the same ones renting them back. Sheer insanity for the renter, sheer genius for Blackstone.

If you love big money, and Wall Street, you will be amazed at how they are transforming real estate in America. The screwing has only just begun.

There is going to be some "swamp draining" and it's going to be for the purpose of condemnation lawsuits and seizing property. Just think about how that term "SEIZE" sounds! The very people that think they have friends in D.C. will find that money is thicker than blood. If you think the 2008 real estate crash was impressive, then what's coming will make that look like a trailer to the real movie.

Here is just a taste of what's to come. My advice, hold onto what you have with a tight grip. Be smart folks, and saavy, because this is capitalism at it's finest hour, and Wall Street is going to look like a T-Rex in the movie Jurassic Park when the recession hits.

https://theintercept.com/2018/10/12/pro ... ll-street/
Call it screwing if you want, but it's 100% legal and encouraged. Banks really do not want to be in the real estate business and legally cannot bid on property at foreclosure other than making the opening bid. People should pay their bills they said they would pay when they were loaned the money.
“Tell me what you brag about and I'll tell you what you lack”

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Re: Annual Cost per Cow

Post by Brookhill Angus » Fri Feb 01, 2019 6:23 pm

TexasBred wrote:
Fri Feb 01, 2019 6:06 pm
Brookhill Angus wrote:
Thu Jan 31, 2019 4:42 pm
Blackstone, a major private equity fund owns property around the U.S. far and wide, purchased in foreclosure. The people who lost their properties are now the same ones renting them back. Sheer insanity for the renter, sheer genius for Blackstone.

If you love big money, and Wall Street, you will be amazed at how they are transforming real estate in America. The screwing has only just begun.

There is going to be some "swamp draining" and it's going to be for the purpose of condemnation lawsuits and seizing property. Just think about how that term "SEIZE" sounds! The very people that think they have friends in D.C. will find that money is thicker than blood. If you think the 2008 real estate crash was impressive, then what's coming will make that look like a trailer to the real movie.

Here is just a taste of what's to come. My advice, hold onto what you have with a tight grip. Be smart folks, and saavy, because this is capitalism at it's finest hour, and Wall Street is going to look like a T-Rex in the movie Jurassic Park when the recession hits.

https://theintercept.com/2018/10/12/pro ... ll-street/
Call it screwing if you want, but it's 100% legal and encouraged. Banks really do not want to be in the real estate business and legally cannot bid on property at foreclosure other than making the opening bid. People should pay their bills they said they would pay when they were loaned the money.
I agree, people should not sign up for subprime loans but they love them, and lenders love making those loans, and the interest rates are tantalizing for Wall Street Bankers who collateralize those loans.
"When someone tells you it can't be done, it's more a reflection of their limitations, not yours"

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Re: Annual Cost per Cow

Post by TennesseeTuxedo » Fri Feb 01, 2019 8:20 pm

Brookhill Angus wrote:
Fri Feb 01, 2019 6:23 pm
TexasBred wrote:
Fri Feb 01, 2019 6:06 pm
Brookhill Angus wrote:
Thu Jan 31, 2019 4:42 pm
Blackstone, a major private equity fund owns property around the U.S. far and wide, purchased in foreclosure. The people who lost their properties are now the same ones renting them back. Sheer insanity for the renter, sheer genius for Blackstone.

If you love big money, and Wall Street, you will be amazed at how they are transforming real estate in America. The screwing has only just begun.

There is going to be some "swamp draining" and it's going to be for the purpose of condemnation lawsuits and seizing property. Just think about how that term "SEIZE" sounds! The very people that think they have friends in D.C. will find that money is thicker than blood. If you think the 2008 real estate crash was impressive, then what's coming will make that look like a trailer to the real movie.

Here is just a taste of what's to come. My advice, hold onto what you have with a tight grip. Be smart folks, and saavy, because this is capitalism at it's finest hour, and Wall Street is going to look like a T-Rex in the movie Jurassic Park when the recession hits.

https://theintercept.com/2018/10/12/pro ... ll-street/
Call it screwing if you want, but it's 100% legal and encouraged. Banks really do not want to be in the real estate business and legally cannot bid on property at foreclosure other than making the opening bid. People should pay their bills they said they would pay when they were loaned the money.
I agree, people should not sign up for subprime loans but they love them, and lenders love making those loans, and the interest rates are tantalizing for Wall Street Bankers who collateralize those loans.
Subprime loans scarcely exist these days. A few non QM (qualified mortgage) programs have come out in the past few years but we’re miles away from all the options we had in the early to mid 2000’s.
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