I was just reading this thread about development
And it reminded me that when I was in the property tax office earlier this week I was talking to one of the appraisers and she told me there is a bill (don't know house or senate or numbers) that had been introduced to eliminate the rollback tax on property that had been in ag valuation and was being developed.
Basically if you bought 100ac and subdivided it in the past you had to go back 5yrs and pay what taxes would have been with no ag valuation so counties could recover lost revenue.
I know of at least 2 places for sale locally that were going to be developed but the "rollback" killed the deal
Pretty sure this has limited development to a degree but not sure I agree with having to pay 5yrs back taxes on say a hayfield that had ag for last 5yrs and is now going to be developed
And it reminded me that when I was in the property tax office earlier this week I was talking to one of the appraisers and she told me there is a bill (don't know house or senate or numbers) that had been introduced to eliminate the rollback tax on property that had been in ag valuation and was being developed.
Basically if you bought 100ac and subdivided it in the past you had to go back 5yrs and pay what taxes would have been with no ag valuation so counties could recover lost revenue.
I know of at least 2 places for sale locally that were going to be developed but the "rollback" killed the deal
Pretty sure this has limited development to a degree but not sure I agree with having to pay 5yrs back taxes on say a hayfield that had ag for last 5yrs and is now going to be developed