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Tax Suggestions

Started by BlaBla, February 05, 2005, 09:39:01 PM

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BlaBla

My family owns about 9 acres in the middle of town. The taxes are really getting to be a burden, about $2000 a  year. The property is covered in trees, about 5 acres heavily forested. Do you all know of any way, legal way, to drop the taxes on this? I know that Kansas has a law that any woodlot over 10 acres is agricultural, and any hay field over 5 acres is agricultural which drastically drops taxes, but I can't get by this. Any suggestions on where to look for a...loophole?

MemphisLogger

Put a conservation easement on it that says it will never be subdivided for development and go back to the assessor for a new assessment. Not being developable will lower its taxable value.
Scott Banbury, Urban logger since 2002--Custom Woodworker since 1990. Running a Woodmizer LT-30, a flock of Huskies and a herd of Toy 4x4s Midtown Logging and Lumber Company at www.scottbanbury.com

BlaBla

The whole conservation easement idea is cool. I'd really like to contribute to preserving land, but I don't like the idea of committing so much, yet.

Any other ideas?

Quartlow

clean off 5 acres and let some farmer turn it into a hay field
Only idea I have. Thats better than a loophole since those can sometimes end up being closed, sometimes around your neck!! :o
Breezewood 24 inch mill
Have a wooderful day!!

DanG

It will also reduce the real value, drastically!  In other words it would become virtually worthless. 

$2000 annually on 9 acres of downtown property sounds pretty gentle to me.  If ya can't afford the taxes, maybe you should sell. ???
"I don't feel like an old man.  I feel like a young man who has something wrong with him."  Dick Cavett
"Beat not thy sword into a plowshare, rather beat the sword of thine enemy into a plowshare."

BW_Williams

Sounds like a good town park to me,  sell it to the town and retain the timber rights?  Good luck, BWW
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J_T

Goate's like a lot of tree's in their pasture . ;D One eletric fence heard goats lower the tax sell the goates ;D Or sheep ???
Jim Holloway

Quartlow

Quote from: DanG on February 05, 2005, 11:09:00 PM
It will also reduce the real value, drastically!  In other words it would become virtually worthless. 

In the middle of town I doubt it would have a significant impact the value of the property. If it was out in the sticks I would agree with you. Besides if you rent the field to a farmer your making a little off of it. ground around here rents for about $30 an acre. I realize $150 a year isn't much but its better than nothing.

The value of this property is its location. Chances are if you sold to a developer it would be clearcut anyway.
Breezewood 24 inch mill
Have a wooderful day!!

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