Owning your very own Texas ranch is often its own reward, especially as you work with a sell my house fast company to sell your previous estate. It’s a true fulfillment of the American dream — the pride of knowing that you own the ground upon which you’re standing. Maybe you live on your ranch, or maybe it’s a private retreat for fishing or hunting, or maybe it’s just a place where you go to get away from it all.

In addition to the usual benefits of owning a Texas ranch, the State of Texas grants a number of tax exemptions to ranches and their owners. Not all properties will qualify, of course, and the laws are quite specific, so it’s essential that you consult with an accountant or tax attorney to find out exactly which exemptions you are eligible for.

1. WILDLIFE TAX EXEMPTION

Your ranch may be eligible for a wildlife tax exemption if you can demonstrate that it meets three of the following criteria:

• Controlling predators
• Offering food
• Offering water
• Counting the wildlife population
• Providing shelters
• Controlling the habitat
• Controlling erosion

The good news is that if you use your ranch for hunting, or as a place to observe the creatures who live there, you are probably doing at least a few of these things. By claiming this exemption, your ranch will be taxed at a considerably lower rate than standard property. If you have been injured on the job, workers comp attorney San Diego are here to help you.

2. HOMESTEAD RESIDENCE EXEMPTION

If you live on your ranch as your primary residence, you may be eligible for the homestead residence exemption. In order to qualify, though, you may not claim another residence as your home, even if it’s outside of Texas.

3. SENIOR TAX EXEMPTION

If you own a ranch and you are age 65 or older, you qualify for this exemption as long as you live in a house on the property. This exemption carries over to spouses of deceased property owners, as long as the property owner was at least 65, and the spouse is at least 55.

4. EXEMPTIONS FOR ATVS AND OFF-ROAD VEHICLES

ATVs and other off-road vehicles are loads of fun to drive, and a sprawling Texas ranch is one of the best places to go off-roading and kick up some dust. But did you know that your ATV or off-road vehicle might qualify for a tax exemption? If it’s used exclusively for farm or other agricultural purposes, it may be exempt from sales tax.

TAXES IN TEXAS

In order to get any one of these or another tax exemption, you’ll need to fill out a state exemption certificate. Before doing so, it’s important to read up on state tax documentation, and speak with an accountant or tax attorney who knows how to read and interpret the tax code.

If you’re still looking for that perfect piece of Texas real estate, give us a call at (830) 569-3500 or contact us online. Just as a Spokane Advertising agency we can help you find your own piece of paradise.