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<blockquote data-quote="backhoeboogie" data-source="post: 192143" data-attributes="member: 3162"><p>Caustic, Property taxes. I'm not talking spending $30K to save $10K. If I break even on cattle, my property tax savings on the ag exemption saves a lot of nickels. If I make $20K on a good year farming, I'd pay taxes on the profit but I still pay far less in property taxes, which adds more to my bank account. </p><p></p><p>You'd have to know this county. I bought an 8 acre piece of property for $9,200 in 1994, that is close to my house. In 2003 the appraisal on that piece of property on a dirt road with no fences was $45,000. I fought the appraisal district and lost so I sold it for half the appraisal value. Mind you I had not changed anything there except for removing some of the brush on the back of it. I put a deer stand on it. Nothing else. No buildings before or after. </p><p></p><p>They want to appraise the property where my cows are for $13K an acre. It is on a country road out side the city limits, no amenities whatsoever. Without the ag exemption, I would go broke just like you are saying. </p><p></p><p>My land in Harrison country is about 1/20 the cost in property taxes. </p><p></p><p>No matter how you do the math, I can afford to lose money on cattle and at the end of the year I will have more hard cash in my pocket. This hard cash in my pocket I speak of has nothing to do with income tax. Now if I make money on cows, I pay more in income tax, but I still save a great deal on property tax. </p><p></p><p>I'm not going to sit here trying to pull your leg and tell you I am a very prudent cattle manager. If if was just about cattle, I would indeed have a few. For me personally it is about keeping an ag exemption on farm property that developers would love to make into a housing development. </p><p></p><p>If my cows are hungry, they're going to get fed, even if it means losing money during a really bad drought. I culled some and that was a good thing, but I spent a lot of nickels last year. Bad management was indeed a factor. I sold hay in June to some horse folks that I should not have sold. There were some other factors as well.</p></blockquote><p></p>
[QUOTE="backhoeboogie, post: 192143, member: 3162"] Caustic, Property taxes. I'm not talking spending $30K to save $10K. If I break even on cattle, my property tax savings on the ag exemption saves a lot of nickels. If I make $20K on a good year farming, I'd pay taxes on the profit but I still pay far less in property taxes, which adds more to my bank account. You'd have to know this county. I bought an 8 acre piece of property for $9,200 in 1994, that is close to my house. In 2003 the appraisal on that piece of property on a dirt road with no fences was $45,000. I fought the appraisal district and lost so I sold it for half the appraisal value. Mind you I had not changed anything there except for removing some of the brush on the back of it. I put a deer stand on it. Nothing else. No buildings before or after. They want to appraise the property where my cows are for $13K an acre. It is on a country road out side the city limits, no amenities whatsoever. Without the ag exemption, I would go broke just like you are saying. My land in Harrison country is about 1/20 the cost in property taxes. No matter how you do the math, I can afford to lose money on cattle and at the end of the year I will have more hard cash in my pocket. This hard cash in my pocket I speak of has nothing to do with income tax. Now if I make money on cows, I pay more in income tax, but I still save a great deal on property tax. I'm not going to sit here trying to pull your leg and tell you I am a very prudent cattle manager. If if was just about cattle, I would indeed have a few. For me personally it is about keeping an ag exemption on farm property that developers would love to make into a housing development. If my cows are hungry, they're going to get fed, even if it means losing money during a really bad drought. I culled some and that was a good thing, but I spent a lot of nickels last year. Bad management was indeed a factor. I sold hay in June to some horse folks that I should not have sold. There were some other factors as well. [/QUOTE]
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