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NC Farm Tax Excemption
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Posted by Ford Man on April 23, 2007 at 09:19:13 from (24.199.226.13):
I am no farmer and don"t pretend to be but I have a question about farm tax excemption rules in North Carolina. What do you have to do to qualify ? I know someone who has about 25 acres with a couple of really nice houses on it and they are set up as farm tax excempt.All I have heard is how much money they save on building materials and equipment and so on. They do not have any crops and they don"t lease the land to anyone to plant. What they have done is plant pines on about three acres and are cutting the timber on another 7 acres and are going to set that out in pines. Is that really enough to claim the excemption ? Seems a little dicey to me. What are the penalties if you are in the wrong ? Any thoughts ? Ford Man
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