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<blockquote data-quote="somn" data-source="post: 225665" data-attributes="member: 3721"><p>I wish I could pay 1/3 of that. But even if I could homestead those acres it still will be more than 1/3. The one parcel I'm able to homestead by law costs me $12.20 per acre. These guys buying land for $4100.00 acre using 1031 exchange money have made our taxes triple. But at $4100.00 an acre the land did triple in value too I guess. Looks good on a balance sheet but in reality it still is only worth so much. It will never return 5% in todays land rental values. I can't understand those guys coming out of the metro area buying farmland then renting it out for less income then they could have got on a cd at a bank. Over time I would think they would have made their capital gains taxes back on a cd long before they would have by buying over valued farmland. I can't imagine them ever selling that land for a profit maybe they can. I guess time will tell.</p></blockquote><p></p>
[QUOTE="somn, post: 225665, member: 3721"] I wish I could pay 1/3 of that. But even if I could homestead those acres it still will be more than 1/3. The one parcel I'm able to homestead by law costs me $12.20 per acre. These guys buying land for $4100.00 acre using 1031 exchange money have made our taxes triple. But at $4100.00 an acre the land did triple in value too I guess. Looks good on a balance sheet but in reality it still is only worth so much. It will never return 5% in todays land rental values. I can't understand those guys coming out of the metro area buying farmland then renting it out for less income then they could have got on a cd at a bank. Over time I would think they would have made their capital gains taxes back on a cd long before they would have by buying over valued farmland. I can't imagine them ever selling that land for a profit maybe they can. I guess time will tell. [/QUOTE]
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