Land News 800x150 full size

Why It Pays To Buy Land in Texas

why it pays to buy land in texas

Subscribe to our Land News Email

Published date:

May 27, 2020

Last updated date:

November 15, 2023

By Laura Mueller

Considering buying Texas land for sale? There are lots of reasons to make an investment in the Lone Star State, where everything really is bigger — including your opportunity for a great deal. Because it’s so large, Texas has quite a diversity available when it comes to the types of land that you can buy, with certain financial incentives for those who purchase land for agricultural or wildlife preservation purposes. Below, we’ll go over what you need to know about those incentives, plus two other reasons that buying land in a Texas is a good idea.


1. There’s No State Property Tax

Property taxes in Texas are assessed and administered on a purely local basis, meaning that regardless of where you live in the state or what you’re using your land for, you’re not going to have to worry about a state property tax. That can save you thousands of dollars per year on your land investment, with the added benefit that since the property taxes that are collected are all used locally, you’ll actually get to see your tax dollars at work. Another advantage: Texas is one of the few states where you also don’t have to pay an income tax.


2. Generous Tax Exemptions

While we’re on the topic of property taxes, let’s talk exemptions — because Texas has quite a few of them. Notably, special use appraisals that can lower the local property tax burden on land that is used for agriculture, timber, or wildlife management. The exemption isn’t a guarantee — you have to show a “productivity value” that benefits the locality in some other way — but it can be a major boon for those looking to invest in agricultural land without incurring major tax-based expenses. Other property tax exemptions in the state include those for disabled veterans, as well as for the surviving spouses of first responders, among others.


3. Development Opportunities

There’s less red tape in Texas than there is in other states when it comes to doing what you want with your property. The reason for that goes back to the state’s local-focused control. Instead of requiring widespread oversight of development on raw land, Texas land owners only need to get approval for their plans from local authorities. If you have a good case for how your proposed land use might benefit the municipality you’re invested in and you’re not up against any barriers like zoning regulations or easements, you should have a pretty easy time getting the approvals that you need. Buying Texas land for sale is a great choice for anyone looking to invest further in the land market — or invest for the very first time. Whether you’re looking for city or country, coastal properties or properties up in the mountains, agricultural land or land for commercial developments, you’ll find a lot of options and a lot of incentives for choosing the Lone Star State. And to ensure that you get the best deal possible, work with a local agent who can oversee the process and assist you in navigating any tax exemptions that you might qualify for.


Keep pace with the latest information and connect with others. Join us on Facebook.


Like this article? Please feel free to share or post a link on your site: https://www.landhub.com/land-news/artificial-intelligence-the-future-of-farming-revolution

logo

All Land News

Leave a Reply