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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 for increased value and profitability.

Owning Texas Land Gives You Options

When you lease land, the property is subject to the lessor. If they want to do heavy equipment work, herbicide applications, or harvest timber, you have no say in it. When you own land, you’re the boss. You can decide how that land is used, cultivated, and enjoyed. If you want to build a commercial-grade barn or a luxury guest house, you can! Typically, building on private land only requires approval from the local county and municipal governments.

Texas Land Has Income Potential

Owning rather than leasing also creates great income opportunities. Your land can be farmed, pastured, or developed however you wish. Not only is property value determined by the marketplace, it also has production value. Ranchland can be used to raise cattle, grow crops, lease for hunting, board horses, or be allotted into rental properties. Truly ambitious landowners can even lease part of their ranch out to small business owners. The income possibilities are endless!

Texas Land Can Offer Tax Benefits

Furthermore, investing in a ranch rather than leasing can save you thousands in agricultural, property, and income tax breaks. Ranchers also qualify for exemptions from certain state and local taxes. If you declare your property as a residence homestead, you can qualify for the Homestead Residence Exemption. If you use your land for agricultural purposes, you can have your ranch appraised on its productivity rather than its market value. This tax break, the Agricultural Tax Valuation, reduces your property tax obligation. You can also qualify for Agricultural and Timber Exemptions if you sell agricultural products or produce timber. If any part of your land is used for wildlife conservation, you qualify for the Wildlife and Conservation Tax Exemption. This entitles you to pay an equal tax rate to the agricultural tax rate. Working farms are also entitled to deductions on equipment, utilities, depreciation, operating losses, wages, and other ordinary expenses.

To find the perfect farm or ranch land of your dreams, contact Legacy Broker Group at 830-446-3378.

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

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Posted by Richmond Frasier • Partner on

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