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Pwd 885 W7000 Form

Pwd 885 W7000 Form

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[Music] you know what I got an A exemption on this property here not really there is no such thing as an agricultural exemption in Texas you often hear the phrase a exemption used but that's not accurate it is actually an agricultural valuation of a property rather than a tax exemption okay then what exactly is an agricultural valuation it is a different way to appraise property most properties are appraised based on the current market value back in the 1960s concern that urban sprawl was diminishing agricultural lands led to a different strategy to appraise land for taxes instead of using the current market value to determine the tax rate agricultural land could be be appraised on its production value this usually would result in a lower tax rate the landowner would pay less in taxes and family farms and ranches would stand a better chance of surviving over the years in Texas voters amended the constitution in 1966 to enact this type of appraisal adoption of article 8 section

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