Ag-exempt means that you'll only pay the amount of tax on what the property should produce, and not on it's market value. It's a HUGE difference in taxes! I have 61 acres that is probably worth $10,000 an acre in market value, but I only pay taxes based on the fact that it "should" produce $10,000 per year in cattle or crops. It is a HUGE tax shelter. To keep Ag-exempt status it must continuously be used for ag use, i.e. cattle, or crops, or hay production. I have a dozen cows, and cut hay on my 61 acres.
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Today's Featured Article - Restoration Story: 1929 McCormick-Deering 10-20 - by Randal Simmon. On July 4th 1998 my dad and I was sitting on the front porch when he said that he was going to sell his two 10-20's to a junk man. He said that the junk man was going to give him $500 for both of them but he hadn't received the money for them yet. So I went into the house and wrote him a check for $500 and bought them myself and said now they are mine. He had bought them about five years before thinking that he was going to restore them himself. After five years sitting in the barn, he changed h
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