Texas Proposition 1

[True Grit Farms]

Lots of folks don't understand that. Unless one is borrowing against it, selling it, or finding some way to make it produce hard currency, it's just a 'worthless' piece of paper, good only for the appraiser's office.

Yup, that's the same reason you should not consider your home an investment unless you are willing to sell it.

You add the cost of construction or house note, taxes along with insurance lots of liability a month.

Beats renting a place to sleep and eat at.

 

[Caustic Burno]

Grit you are renting quit paying the note or taxes see how long your there.
Very few people can write a check for their home, even if they can there still renting the place.

 

[TexasBred]

That is the point. All this fair share talk... That is the most fair way to do it.

Your right CB. You get these people that like 13 relatives in one cheap house and that's exactly what happens.

15 Mexicans living is a $30K house pay nothing while one old rancher with 1000ac gets taken to the cleaners. Or these old people who built their modest home in 1960 for $30K are trying to pay property taxes on a $500K home just because the neighborhood grew up around them.

Old rancher ain't hurtin'. 1000 acres at any point in time made you a wealthy man for that time period and continued the longer you own the property. Should be worth quite a few millions today compared to that $3-4 an acre he paid for it. Same for the 30k house.

You can't pay bills with "worth".

Land rich.....dirt poor. When an asset becomes a liability. You know most people expect assets to appreciate in value when they buy them. They also expect to pay taxes on most. If they didn't take that into consideration don't blame me. Not my fault your 1000 acres won't cash flow or that you have a half million dollar house you can't pay the taxes on. Great time to sale and there are smaller more affordable houses to buy and live in. Being over 70 years old now the lady of the house would probably appreciate a smaller house to take care of.

 

[Brute 23]

Old rancher ain't hurtin'. 1000 acres at any point in time made you a wealthy man for that time period and continued the longer you own the property. Should be worth quite a few millions today compared to that $3-4 an acre he paid for it. Same for the 30k house.

You can't pay bills with "worth".

Land rich.....dirt poor. When an asset becomes a liability. You know most people expect assets to appreciate in value when they buy them. They also expect to pay taxes on most. If they didn't take that into consideration don't blame me. Not my fault your 1000 acres won't cash flow or that you have a half million dollar house you can't pay the taxes on. Great time to sale and there are smaller more affordable houses to buy and live in. Being over 70 years old now the lady of the house would probably appreciate a smaller house to take care of.

The can afford their land. They can't afford to feed the govt. Just because the govt can not get their spending under control does not mean they should lose their land.

 

[TexasBred]

You can't pay bills with "worth".

Land rich.....dirt poor. When an asset becomes a liability. You know most people expect assets to appreciate in value when they buy them. They also expect to pay taxes on most. If they didn't take that into consideration don't blame me. Not my fault your 1000 acres won't cash flow or that you have a half million dollar house you can't pay the taxes on. Great time to sale and there are smaller more affordable houses to buy and live in. Being over 70 years old now the lady of the house would probably appreciate a smaller house to take care of.

The can afford their land. They can't afford to feed the govt. Just because the govt can not get their spending under control does not mean they should lose their land.

I forgot it's always the govenment's fault....until you need them.

 

[True Grit Farms]

Grit you are renting quit paying the note or taxes see how long your there.
Very few people can write a check for their home, even if they can there still renting the place.

This is a good read, unless you know everything.

 

[backhoeboogie]

Grit you are renting quit paying the note or taxes see how long your there.
Very few people can write a check for their home, even if they can there still renting the place.

I found a farm I want. Been sitting for sale for quite some time. No longer Ag Exempt. As I understand, it will take 5 years and a lot of butt kissing to get the exemption back. In the mean time, it is a huge expense that the cows cannot cover. So I aint buying the place. Neither is anyone else apparently.

From your perspective, my cows can't afford the rent.

 

[Brute 23]

Grit you are renting quit paying the note or taxes see how long your there.
Very few people can write a check for their home, even if they can there still renting the place.

I found a farm I want. Been sitting for sale for quite some time. No longer Ag Exempt. As I understand, it will take 5 years and a lot of butt kissing to get the exemption back. In the mean time, it is a huge expense that the cows cannot cover. So I aint buying the place. Neither is anyone else apparently.

From your perspective, my cows can't afford the rent.

I have never heard it takes 5 years to get an ag exemption. That is in Texas?

 

[Caustic Burno]

Yep that got passed a few years back.
You let that exception lapse your not getting it back without a fight.
Guy down the road fighting that battle right now. He finally got it me and two other guys had to sign affidavits that we had constantly had the place in hay production.

 

[Brute 23]

Yup. I'm reading where it says it had to be exempt 5 of the last 7 years. Thats pretty tough.

 

[backhoeboogie]

Yes it is Brute - and you're fighting city hall. "Why has that land now been in production if it is viable ag land?...." I dunno. I didn't own it. Why were there not cows on it instead of buffalo 400 years ago ?

 

[TexasBred]

Grit you are renting quit paying the note or taxes see how long your there.
Very few people can write a check for their home, even if they can there still renting the place.

I found a farm I want. Been sitting for sale for quite some time. No longer Ag Exempt. As I understand, it will take 5 years and a lot of butt kissing to get the exemption back. In the mean time, it is a huge expense that the cows cannot cover. So I aint buying the place. Neither is anyone else apparently.

From your perspective, my cows can't afford the rent.

I have never heard it takes 5 years to get an ag exemption. That is in Texas?

May vary from county to county. I have no idea but took me five years and even then I had to go back down adn prove I filed for it 5 years earlier, take 5 years of feed purchase receipts, sale receipts and the farm income schedule from tax return for 5 years. A real PITA.

 

[Old Hat]

Probably end up compromising with a combination of the two....that way the have two screws to turn.

That's the scary part of not completely eliminating one whe wou add the other.

 

[Old Hat]

Can you explain how the consumption tax would work and how it would benifit us. Not trying to get smart with you but don't the land taxes help pay for the up keep of county roads and keeping the peace around here? I'm all for paying less taxes but the county I live in is broke as it is and has a terrible time keeping the roads up and keeping the county safe. I also spend the bulk of my money in a neighboring county as this one doesn't have much to offer. Now the school tax I definitely think they could do something different on. I also wonder if the amount of tax I pay would go up on the consumption tax. Honestly I'm more worried about them upping the land value and then doing away with the ag exemption on land, now that would hurt allot of folks.

Lucky, one of the huge problems with property tax is never owning your land. Even if the sales tax cost you just as much or more at least your property is yours, you are no longer a sharecropper or renter to the county and school. As far as business owners, they pay property taxes too. Only they add that to the costs of their products and we pay their taxes in the end.

 

[Brute 23]

Yes it is Brute - and you're fighting city hall. "Why has that land now been in production if it is viable ag land?...." I dunno. I didn't own it. Why were there not cows on it instead of buffalo 400 years ago ?

Ya I don't see how what they owner before did effects you.

 

[hurleyjd]

If every hidden tax was done away and all other taxes except a sales tax. How much would this tax have to be. Any ideas any one. Good possibility it would approach 100%. I just paid 22% on the gas when I paid 2.10 dollars last week for a tank. That is 38 cents state a federal.

 

[hurleyjd]

Okay some of you answer the question on how much the sales taxes would need to be to cover all of the taxes that we pay now.

 

[Caustic Burno]

If every hidden tax was done away and all other taxes except a sales tax. How much would this tax have to be. Any ideas any one. Good possibility it would approach 100%. I just paid 22% on the gas when I paid 2.10 dollars last week for a tank. That is 38 cents state a federal.

Double that on Diesel for the feds that is a hidden income tax. Everything in this country gets moved on a gallon of diesel.

 

[hurleyjd]

If every hidden tax was done away and all other taxes except a sales tax. How much would this tax have to be. Any ideas any one. Good possibility it would approach 100%. I just paid 22% on the gas when I paid 2.10 dollars last week for a tank. That is 38 cents state a federal.

Double that on Diesel for the feds that is a hidden income tax. Everything in this country gets moved on a gallon of diesel.

Floating an idea to increase the Federal tax by .25 cents.

 

[bird dog]

What burns me up is that I can add an improvement like a hay barn and not pay taxes on the material and use it on an ag exempt piece of property but have to pay taxes on the full value of the barn as if it is a house. They value it based on square footage even though it has a dirt floor and sides that only come down 3'.

You pay from what they can see from a satellite view and its up to you to prove otherwise.