Helping aspiring farmers to afford land
The Young and Military Veterans Tax Relief bills (HB 950 and SB 330) help address the problem of our aging farmer population by allowing young beginning farmers and military veterans to qualify for agricultural valuation on their land after one year of farming, instead of having to pay high taxes while waiting for five years.
The bill passed the Senate on March 29, and had a very positive hearing before the House Agriculture Committee on April 13, but now seems to have stalled out. PLEASE help us move this important bill forward!
High property taxes represent a major start-up cost for new farmers. Texas law provides that land used primarily for raising food is taxed at a lower rate, but not only must the land be used principally for agriculture, it must have been used that way for at least 5 of the preceding 7 years.…