Tax values are set so much for timber ground, pasture and crop. They are taxed at lower rates than say a 5 or 6 acre tract. I grew up in Lexington and moved in 1995. We tried buying just a few acres within 30-40 minutes of Lexington and it was crazy high, back then hard to too much for less than 5,000 a acre. I spoke with a realtor about a farm someone was trying to sell me, 12-1500 for timber land, most pasture 2500 or so, crop ground 3500 or so, some areas around me are a lot higher but have seen several farms average 3500-4000 a acre with no buildings. Road frontage and how dividable it is plays a part not counting the buildings. Size of the tract affects value a lot also. Roughly how big of a place is it?I'm sure thats a part of how they arrive at the tax value. The tax values go up frequently, I dont know as much about this as I should. Lots of folks around have always went and argued the values down because the land is being used for agricultural purposes. I'm afraid that may be counter productive when it comes to selling though.
I had to have mine appraised 4 years ago for a equity loan and they put $1700 average on the land with about 60% of mine being wooded, hardly any road frontage as we are off the main road on a chip and seal road.
Last edited: