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<blockquote data-quote="greybeard" data-source="post: 1657325" data-attributes="member: 18945"><p>Taxable value and 'fair market value are 2 different things in most states, due to the production value/potential of the land. (we get a different kind of valuation on ag land here in Texas which equates to a tax exemption but that does not affect market value when it coms to sale time. The ability of land to qualify for 'ag' here is always considered a plus unless the buyer is a subdivision developer)</p><p></p><p>But you are correct. Arguing down general valuations for tax purposes is a double edged sword that cuts both directions.</p><p>OTOH, places that sell for more than they are realistically worth (like the places I pictured above) are one of the causes of encountering high land prices when buying.</p><p>There's appox 125 acres in that picture and my father once owned all of it in the three 41.4ac parcels. He paid a total (interest not included) of right at $42,000 for it in '64/'65. Approx valuation today is around $960,000.</p></blockquote><p></p>
[QUOTE="greybeard, post: 1657325, member: 18945"] Taxable value and 'fair market value are 2 different things in most states, due to the production value/potential of the land. (we get a different kind of valuation on ag land here in Texas which equates to a tax exemption but that does not affect market value when it coms to sale time. The ability of land to qualify for 'ag' here is always considered a plus unless the buyer is a subdivision developer) But you are correct. Arguing down general valuations for tax purposes is a double edged sword that cuts both directions. OTOH, places that sell for more than they are realistically worth (like the places I pictured above) are one of the causes of encountering high land prices when buying. There's appox 125 acres in that picture and my father once owned all of it in the three 41.4ac parcels. He paid a total (interest not included) of right at $42,000 for it in '64/'65. Approx valuation today is around $960,000. [/QUOTE]
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