Industry News

Coalson's Real Estate Tips – Ag Exemption

Spring is here, and with that can be a mammoth list. Near the top of any list should be to make sure that your land is in agricultural exemption (AE) on the property tax rolls. As most of us will agree, taxes are not the coolest of subjects to discuss; however, property taxes can be a real financial burr in your saddle if your land is not in AE when it could be. AE property taxes are significantly lower than the normal land tax rates. Structural improvements are not considered. This can be a significant savings for most people. Ten acres is the minimum acreage to qualify for AE, and the land must be narrowly and exclusively focused on the enhancement and development of agriculture. If property falls out of AE, it could take up to five years to regain AE status. Jan. 1 to April 31 is the deadline to apply for AE. Contact your local property tax appraisal district to inquire about AE or any other questions concerning property taxes. There's no need in paying significantly more that you have to if your land qualifies.

McAllen Coalson, Broker / Coalson Real Estate