Land Ownership Tax Issues

The topic of taxes will always be relevant idea for Texas land and ranch owners, and the different topics discussed are vitally important. Policies and exemptions are constantly adapting, and keeping up to date will always be vital to your success as a landowner. 

Texas Fields

Found 6 blog entries about Land Ownership Tax Issues.

bluebonnet field in Texas

Texas Land Is Valuable

Learn the value of your ranch at our Ranch Valuation Tool. 

One of the fastest ways to build wealth is through owning property. Owning land is an investment, and the effort and commitment have long term advantages that will benefit you and future generations. Leasing has its perks, but our team at Legacy Broker Group believes it pays to play the long game.

Texas land is unquestionably valuable. According to the U.S. Census, Texas has a current growth rate of 1.80%, which makes it the third-fastest growing state in the country. Real estate will always be a limited commodity, and as the population increases available land will only become more precious. As far as investments go, land ownership has the greatest potential

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With a growing population, no income tax and a low cost of living, there is an increasing interest in buying rural property in Texas. As the population increases, the state’s cities and urban areas continue to expand. This has led to more people looking for property in outlying locations.

There are several commercial opportunities for rural property in Texas, including investment properties such as ranches, farmland, and second homes away from heavily populated city areas. As the demand for rural property grows, rural land purchasers are likely to see an increase in the value of their investments.

How Do I Buy Rural Property in Texas?

Once you’ve found a piece of rural property in Texas that suits your needs, the first step is to make an

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Wait! Before you buy that land, make sure you’ve done your homework. Here are five key questions to ask, and how to find the answers.

1) WHAT RESTRICTIONS AND/OR ZONING ORDINANCES APPLY TO THE PROPERTY?

Determine legal uses on the parcel you’re considering: Is it zoned agricultural, residential, commercial? Each of those classifications will determine what you can and can't do on the property. Municipalities occasionally change their communities' zoning to reflect what they want to direct the land to become in future years. Even if the seller provides you with zoning information, verify it yourself with the local governing agency (in the town or county where it’s located) to ensure you have the most up to date information. You’ll also want

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With its beautiful ranch properties, rolling hills and hardy pine forests, Texas is an ideal place to buy land.

But finding the perfect property is just the beginning of the land buying process. In order to know how to buy land in Texas, there are a number of state-specific trends and regulations to understand.

Here are the answers to some common questions Texas land buyers ask:

What does rural land in Texas typically cost?

It's wise to keep in mind that land values can vary vastly depending on features of the specific property you're considering, such as location, access, special amenities and natural features. However, the Real Estate Center of Texas A&M University has a website dedicated to data on purchasing rural land in Texas,

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how usda nrcs can aid your land management

 

Did you know that through the National Resource Conservation Service in Texas, eligible landowners can receive financial and technical assistance in natural resource management?  Through grants, incentive programs, and stewardship programs, Texas landowners can find ways to sustainably manage their land and production. The goal of the program is to help implement conservative practices into your land, so not only will you be able to have immediate help with your land, but you will have secured the future for your land. 

Not only does the United States Department of Agriculture offer financial aid, but they also have programs that help in landscape planning, which includes ways to avoid watershed damage from the flash floods that frequent

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Question: Can you, as a buyer, possibly make a better deal by dealing directly with the agent whose name is on the “For Sale” sign?

 

Answer: Probably not...and the law (quoted below) puts you at a disadvantage.

 

AS A SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

 

For clarity’s sake, understand that 1) the license holder is me, 2) the buyer is you, and 3) the owner is the individual who is selling a property.

 

Many buyers make the mistake of assuming that working directly with the license holder who is selling an owner’s property

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