Schedule F up Again ?

[callmefence]

The counties really need to do something about agriculture exemptions on smaller parcels, it really affects the counties tax base. Maybe like a income related deal off the property? IDK But it sure is nice paying taxes on ag land and then selling it as residential or commercial property down the road. Almost feels like I'm cheating the government. But if the government didn't waste so much money, paying taxes wouldn't hurt as much. Impact fees are a big thing in Florida and can cost some major money.

Should be income based. Not only would it stop the county from losing money to everyone with three goats. It would open up more property to ag. Leases

 

[skyhightree1]

In Va, the "land use" tax break, has to be able to show that the place is being farmed by a farmer that does a schedule F on taxes, and I am pretty sure the farmer has to show a minimum of 1,000 in income. Plus, if it gets sold for residential or development, there are some rules about having to pay back taxes for like 5 years or something like that. It has to do with not being able to take advantage of the tax break, and I am not real sure of all the details....but do know that there are some rules to it. So the tax break really does help the older retired people, but then all the ones that come in and buy the 5-20-50 acre "estates" get the benefits; at least for awhile. We actually had one that refused the land use reduction because they are not sure what they are going to do with it in the next few years and don't want to have to pay back taxes in case. We are still making hay off it, and it is just a year to year thing but that is okay.

person told me they just had to show it was being used in agriculture 5 years they just bought the land so I don't know for sure. I know I have to sign something saying im farming it and what im raising etc.